Iran, Tehran: Iran’s Energy Minister Hamid Chitchian revealed the country has devised plans to overhaul its power industry within the next five years, which need a collective investment of $30 billion to be materialized.

Iran to attract $30B for power projects

Iran, Tehran: Iran’s Energy Minister Hamid Chitchian revealed the country has devised plans to overhaul its power industry within the next five years, which need a collective investment of $30 billion to be materialized.

The minister said that these plans include building new power plants, repairing and upgrading the current ones, as well as developing a smart national power grid, reports Press TV.

He also emphasized that Iran’s power output would reach as high as 125,000 MW by 2026.

The country needs to invest $7-8 billion a year in its power generation and distribution sectors in order to keep pace with its growing demand, according to the head of Iran Power Transmission, Generation and Distribution Company (Tavanir), reports Press TV.

Source: Press TV