ANKARA - Turkey and Iran signed Tuesday a cooperation agreement to build three thermal power plants, two in Iran and one in Turkey. Each plants will have 2,000 megawatts of power generating capacity.
According to the agreement, signed by Turkish Energy Minister Hilmi Guler and his Iranian counterpart Parviz Fatah, transmission grids between the two countries will be upgraded and several hydroelectric power plants will be built in Iran that would generate a total of 10,000 MW of electricity.
The thermal power plants will be operated by private companies of the two countries. Accordingly, Turkish company will have 49 percent of stake in Iranian power plants and Iranian company will have the same percentage in Turkish power plant.