BAKU, Azerbaijan, February 3. Iran has invested a total of 560 trillion rials (about $971 million) in 282 water and electricity projects across 31 provinces, said Yazdan Rezaei, the country’s Deputy Energy Minister for Economic Affairs and Planning, Trend reports.
Speaking today at a press conference in Tehran, Rezaei noted that 175 projects are related to electricity transmission and distribution, 2 projects focus on the use of border waters, and 25 projects deal with wastewater collection, all of which are set to be operational soon.
He further noted that the water and electricity projects will provide services to approximately 2.67 million urban residents and 1.33 million rural inhabitants.
Currently, Iran’s electricity production capacity has reached 95,000 megawatt hours.
Rzayi also revealed that assets worth 860 trillion rials (about $1.49 billion) in the water and electricity sectors have been identified and announced for privatization by the Privatization Organization. The proceeds from these sales will be allocated to complete ongoing water and electricity projects.
Additionally, prior to this, Iran's total electricity production capacity stood at over 93,000 megawatts. This includes 76,257 megawatts from thermal power plants, 12,144 megawatts from hydropower plants, 2,485 megawatts from retail power plants, 1,450 megawatts from renewable energy sources, 1,020 megawatts from the Bushehr Nuclear Power Plant, and 408 megawatts from diesel units.
Apropos of Iran's energy potential, Iran's energy sector is defined by extensive fossil fuel deposits, establishing the nation as a significant global energy player. As of 2021, Iran possesses the world's third-largest confirmed oil reserves and the second-largest natural gas reserves, comprising 24 percent of the Middle East's oil reserves and 12 percent of the global total. In recent years, Iran has encountered a substantial energy problem resulting from the confluence of deteriorating infrastructure, mismanagement, and international sanctions. This has led to recurrent power outages, interruptions in industrial output, and difficulties in fulfilling home energy requirements. The expansion of bitcoin mining in the nation has intensified the load on the energy grid, worsening the issue. Confronting these problems is essential for Iran's energy sector to satisfy the demands of its expanding population and economic aspirations.
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