Iran needs $30B investment for power projects

EghtesadOnline: Iran has devised worth $30 billion plans for developing its power infrastructure in the following five years, which include building power plants, repairing and upgrading current ones, as well as developing and making the power grid smart, Iranian Minister of Energy Hamid Chitchian said.

News ID: ۷۳۵۷۴۲

11 August 2016

Right now Iran’s power output is 75,000 megawatts, which will increase by 26,500 in five years and hit 125,000 in 10 years, Chitchian told Trend Aug. 10.

In 2015, Iran agreed to the terms of the COP 21 meeting in Paris, meaning by 2030, the country should be producing about 7,500 megawatts of power from renewable sources, reports ILNA.

Chitchian said that in five years, Iran expects to have actualized 5,000 megawatts of the power generated from renewable sources.

“So far contracts have been signed for creating 1,000 megawatts renewable energy power plants. But companies from Denmark, Germany, Spain, the UK and China have also visited Iran, holding talks for new contracts,” the minister stated.

He said the average efficiency of power plants in Iran stands at 37.7 percent, but added that the number will improve in the five years ahead.

“Iran will use new turbines of classes F and H with efficiencies around 40 percent. Iran itself is producing class E power plants with efficiencies of 33 percent,” Chitchian said.

Combined-cycle power plants constitute 25 percent of Iran’s power generation. But the minister said that his office plans to improve the percentage to 50 by five years.

The combined-cycle power plants’ efficiency hovers around 60 percent.

“The Belgian Unit International, with branches in Turkey, recently signed a contract with Iran to build 5,000 megawatts of combined-cycle power plants. The project is worth $3.5 billion and will be accomplished in three years,” Chitchian said.

“Iran is trying to replace as much as possible old gas power plants with new combined-cycle versions,” he added.

Iran’s electricity output currently stands at 286 billion kilowatts hour.

In another part of his statements, the minister said a 330-kilovolt power line between Iran and Azerbaijan came on stream on Aug. 4, increasing power transmission between the two countries from 200 megawatts to 500 megawatts.

“Iran and Azerbaijan conduct vast and regular talks to improve cooperation over electricity,” he said.