$30bn Electricity Projects for Foreign Investors

Iran plans to offer electricity generation projects worth €28 billion ($30 billion) to foreign investors.

IRNA news agency quotes Energy Minister Hamid Chitchian (pictured) as saying that between 47,000 to 50,000 megawatts (MV) are expected to be added to generating capacity over the next 10 years, requiring an investment of $5 billion per year in generation, transmission and distribution.

He said, “We have already interred into negotiations with foreign companies and some of them have showed interest to participate in the projects”.

Deputy Energy Minister Houshang Falahatian said the transition from gas-fueled to combined-cycle power plants should increase efficiency from the current 32 or 33 percent to 45-47 percent over three years.

Iran currently exports electricity to Turkey, Armenia, Turkmenistan, Azerbaijan (including the Nakhchivan Autonomous Republic), Pakistan, Afghanistan and Iraq.

(Source: Tehran Times)

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