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Iran eyes electricity export market

May 11, 2012 at 10:10 AM
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TEHRAN, May 11 (UPI) -- The Iranian Energy Ministry said it expects to secure export contracts for electricity with the Syrian and Lebanese governments in the near future.

The Iranian Energy Ministry reports electricity exports for the Iranian calendar year ending March 19 were up more than 38 percent to 1,347 gigawatt hours compared with the previous year.

The ministry said it is working on establishing a self-sufficient power sector where distribution and transmission equipment manufacturing is entirely domestic.

The country already has electricity export contracts with Afghanistan, Armenia, Azerbaijan, Pakistan, Iraq and Turkey, among others. Export contracts for Lebanon and Syria are forthcoming, reports state-funded broadcaster Press TV.

Iran this week said it could be a reliable electricity partner for India after U.S. Secretary of State Hillary Clinton lauded New Delhi for taking steps away from Iranian crude oil.

Tehran, the Press TV report said, has attracted more than $1.1 billion in investments from unspecified sources to build three new power plants.

Earlier this week, Tehran said it was investing roughly $650 million in renewable energy programs.

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