News / Energy

Iran, Spain firms sign power generation deal

Wednesday, 12 August 2015 10:39 AM [ Last Update: Thursday, 13 August 2015 3:20 AM ]

Iranian and Spanish firms agree to to implement power generation projects.

Iranian and Spanish companies have signed a memorandum of understanding to implement power generation projects worth $250 million in Chile and Mexico.

The agreement signed between Iran’s electrical products company Sunir and Spanish firm Bester Generation envisages joint execution of projects in the Middle East, Africa and Latin America, Sunir Managing Director Bahman Salehi said.

Salehi and Bester’s Executive Director Antonio Sanchez signed a technical engineering agreement to work on designing and producing equipment related to solar and other renewables.

The two companies were also studying plans for setting up two solar and wind power plants in Iran and Afghanistan, he said.

“Iran plans to turn into an energy and power hub in the Middle East in the near future. Hence, there is a plan on the agenda to set up joint power transmission lines with most of the neighbors,” Salehi said.

On Wednesday, Iran signed a deal worth 107 million euros with neighboring Armenia to build a new transmission line which will raise their power exchange capacity to 1,000 megawatts.

Under the memorandum, Sunir and Bester will cooperate on design, construction, commissioning, operation, repair and financing of renewable energy projects as well as exchange of technology.

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