Iran is ready to implement international power projects worth $4 billion, including the exportation of electricity, Shana, the country's oil ministry's news agency reported.
"Currently, talks are under way for signing over $2.5 billion's worth of contracts with foreign customers along with $1.6 billion worth in projects that have already been finalized by the Ministry so far," Shana cited from Esmaeil Mahsouli, Deputy Energy Minister.
Thirty of Iran's companies are already exporting electricity worth about $4.3 billion to over 20 countries, according to data released by Deputy Energy Minister.
Afghanistan, Armenia, Azerbaijan, Iraq, Pakistan, Turkmenistan and Turkey are the electricity importing neighbors of Iran. African countries such as Ethiopia, Kenya, North Africa and Sri Lanka are some of the other customers of Iran's power and water industry services.
Iran produces 70 percent of its total electricity generation from natural gas, according to U.S. Energy Information Administration. Oil is the second largest source for Iran's electricity with almost 25 percent, and the remainder is produced by hydropower, coal and renewable sources.
By Ugur Serhan Ozcan