electricity

Iran: Investors can export 50% of power

Private investors can export 50% of the electricity which they generate at border plants, head of Iran’s national power grid has said. 

The Energy Ministry permits investors to discuss on their own the terms of electricity exports and transmission to Iran’s neighbors, said managing director of Tavanir, Arash Kordi.

Tavanir stands for Iran’s Power Generation Transmission and Distribution Management Company.

Kordi said the government supports private investors for power generation and exports.

Iran is the biggest generator of electricity in the Middle East where it produced 277 billion kilowatt hours (kWh) of power last year, the official said.

Iran mainly operates hydroelectric, gas and combined cycle power plants but it plugged its first nuclear power plant into the national grid in September 2011.

Iran plugged its first nuclear power plant in Bushehr into the national grid in September 2011.

The 1,000-megawatt plant is currently operating at 40% capacity. It is part of Iran’s plans to produce 20,000 megawatts of nuclear power.

Iran is counting on its large diaspora of expatriates for investment, with the government lining up a series of incentives to attract them.

“The government is planning to absorb $30 billion of Iranian expat capital for implementation of economic projects and investment across the country,” Deputy Labor Minister Abolhassan Firouzabadi has said.

By Press TV