News ID: 317038
Published: 0415 GMT October 12, 2021

Iran’s manufacturers commit to $7b in power generation investment

Iran’s manufacturers commit to $7b in power generation investment

Iranian manufacturers will invest nearly $7 billion in the next three years to build new power plants to respond to their growing electricity needs.

A deputy industry minister said that the investment would add around 10 gigawatts (GW) to Iran’s current electricity generation capacity of 88GW, Press TV reported.

Seyyed Mehdi Niazi, who serves as deputy minister for planning and projects at the ministry, said that power plants planned to be built by manufacturers across Iran would start supplying electricity to the national power grid by 2024.

Homayoun Haeri, a deputy energy minister who signed the document, said that the Iranian manufacturing sector is responsible for over 36 percent of the total demand for electricity in Iran with an estimated consumption of 100 megawatt hours reported over the Iranian year to March.

Iran was forced to cut electricity supplies to some major industrial units over the summer to prevent power cuts in large cities and towns.

The outages even caused price hikes for some major manufacturing products, including for cement and steel.

A new administrative government that took office in August has vowed that steelmakers and cement producers will have access to stable supplies of electricity in the upcoming months.

Iranian Energy Minister Ali Akbar Mehrabian said on Monday that the government would press ahead with plans to increase electricity generation capacity both in the thermal and renewable sectors.

 

Mehrabian said his ministry had set a target of creating 35GW of new capacity in the Iranian electricity generation sector within the next four years.

 

   
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