Country agrees on power trade with Iran

Iran has concluded an agreement with Azerbaijan for the purchase of 150 megawatt of power, according to a senior Iranian official.

Iran’s Energy Minister Reza Ardakania noted that the agreement on his country’s power purchase from Azerbaijan was made during the recent visit of President Hassan Rouhani to Baku.

Speaking to Iran's Radio Economy on Friday, the minister added that the two countries currently enjoy a total capacity of 700 MW for power exchange.

In the meantime, the sides have decided to take measure aimed at synchronizing the power grids of Iran, Azerbaijan and Russia.

Iran’s nominal capacity for power generation currently stands at 78,421 MW following the connection of a number of power plants to the country’s national grid. Iran plans to add 3,000 MW to its capacity over the current fiscal year. Iran’s capabilities in the area of power generation have significantly developed over the past four decades, thus making the country the top producer of electricity in the region.

Azerbaijan enjoys a capacity of 7,172 MW. The transmission lines of both countries were synchronized in August 2016. Azerbaijan has already turned from a country importing electricity to the country exporting it. The export potential is growing, while the country enjoys the relevant infrastructure for transmission of electricity.

The volume of electricity produced by Azerenerji JSC in February was 1,921 billion kilowatt-hours.

Iranian President concluded his two-day visit to Baku on March 29 where the sides inked eight agreements on cooperation in various sectors, including energy.