Iran, Azerbaijan sign accord on investing in hydroelectric power plants

Iran and Azerbaijan have signed a document that will accelerate the joint construction of the Khudafarin and Giz Galasi hydroelectric power plants on the Araz River.

Iranian Energy Minister Ali Akbar Mehrabian made the remarks in Baku, Report informs with reference to foreign media.

Mehrabian added that one of the important issues of Iranian-Azerbaijani relations is a joint investment in the Araz border river for water resources management and electricity generation.

The Iranian minister noted that during the visit an agreement was reached and an important document was signed between the two countries. On this basis, the construction of two dams holding 1.7 billion cubic meters of water will be accelerated, and the adjacent hydroelectric power plants will produce about 300 megawatts of electricity.

It should be noted that the total capacity of two HPPs located on the Araz River and on the border with Iran is 280 megawatts (Khudafarin HPP - 200 megawatts, Giz Galasi - 80 megawatts). The power plants will produce 716 million kWh of electricity, of which 358 million kWh will come from Azerbaijan and the same amount from Iran.

The construction of the HPP is planned to be completed in 2-2.5 years.