Several major European companies will arrive in Tehran soon to discuss partnership and investment in Iran’s power industry projects, a deputy energy minister says.
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Last week, executives of German companies met with energy officials in Tehran and the two sides decided to set up a joint working group to start cooperation, Houshang Falahatian said.
“Iran is set to make use of attractive and lucrative investment opportunities in its energy and power industries for construction of new plants, expansion and conversion of gas power plants into combined cycle stations and construction of transmission lines and renewable power facilities,” he said.
Falahatian said there is no limit to the participation of foreign companies and their investment in the projects, including by American firms.
“Except for the countries which the Islamic Republic does not recognize, Iran is open to the entry of foreign investors into its energy and power industry.”
Asked about possible participation of US companies, he said, “We are ready to review and assess any proposal by American firms for cooperation with Iran.”
Representatives of Siemens and other major entities met Iran’s Energy Ministry officials during last week’s visit to Tehran by German Energy and Economy Minister Sigmar Gabriel to discuss potential areas for investment.
Following in their steps, Indian energy, power and petrochemical executives also traveled to Tehran to “study investment opportunities” after the conclusion of nuclear talks between Iran and the P5+1.
An executive of Suzlon Energy said his company, one of the world’s leading wind turbine suppliers, was ready to compete with Siemens for implementation of renewable energy projects in Iran.
Iran is the biggest producer of electricity in the Middle East, generating over 70,000 megawatts-hour.
Thermal stations account for 85% of the electricity produced in Iran and hydropower plants for 14% of that.
Iran has also embarked on a push to add 5,000 megawatts of renewable wind and solar power to its grid by 2018. According to state officials, projects for 1,300 megawatts are either underway or have been signed.
/SR
