Iran extends electricity export contract with Iraq

TEHRAN, Feb. 08 (MNA) – Contract for export of Iran’s electricity to neighboring Iraq was renewed at the venue of Energy Research Center on Fri. Feb. 8 in the presence of Iranian Minister of Energy Reza Ardakanian and Iraqi counterpart Iraqi Minister of Electricity Louay Al Khateeb.

This contract was exchanged between TAVANIR (Iran Power Generation and Transmission Company) and Iraqi side.

The two ministers signed and sealed a bilateral cooperation agreement in the field of generating, exporting and transferring technology of power industry.

The official contract for export of electricity between Iran and Iraq was inked in 2005 with 150-megawatt generation capacity, the contract of which has been extended every year.

Under the latest contract inked between the two sides, Iran exports 1,200 megawatt electricity to neighboring Iraq through three power transmission lines in Basra, Diyala Governorate and Amara annually.

To receive Iran’s electricity export money, Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati inked a Memorandum of Understanding (MoU) with Iraqi finance minister last week in order to accelerate Iraq’s oil and gas payment to Iran.

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