Joint construction of new power plants by Azerbaijan and Iran will enhance energy stability and export potential of Nakhchivan Autonomous Republic, Etibar Pirverdiyev, head of Azerenergy OJSC, the largest electrical power producer in Azerbaijan, reported.
Pirverdiyev said that it was necessary to begin implementation of this project as soon as possible.
“This project is very important for both Azerbaijan and Iran”, Pirverdiyev said. “The work on the project must be accelerated”.
Earlier, the Iranian parliament passed a bill on the joint construction of two power plants with the Republic of Azerbaijan.
The hydroelectric power plants will be built near the Araz River borderline in the Iranian town of Marazad and Azerbaijan’s Ordubad.
Iran and Azerbaijan inked a MoU last December, which covered cooperation in 12 various sectors including energy.
Based on the signed document the two parties will cooperate in construction of power plants at Khoda Afarin and Qiz Qalasi dams on Araz river and following the issue of agreement on the construction of Ordubad power plant on the Azerbaijani side and Marazad power plant on the Iranian side as well as implementation of joint guideline on border rivers’ water management.
Iran and Azerbaijan also signed a MoU on energy swap. In accordance with the document, the final prices of purchase and sale of electricity between the two countries were determined. (Trend/Business World Magazine)
