November 28, 2020 18:43

Bid to Resolve Debt Problem of Private Power Producers

Unprecedented rise in forex rates over the past 15 months has added huge financial costs on private electricity producers pushing most near insolvency

Talks are being held to help address the financial problems of private power producers who built plants with forex loans from the National Development Fund of Iran (sovereign wealth fund) and are unable to repay.
The Energy Ministry is trying to convince the fund to accept the unpaid debts in rials instead of foreign currency, the minister said.
“We are aware of their financial crises. The ministry is doing all it can to help settle their debts in rials with easy installments,” Reza Ardakanian was quoted as saying by Barq News.

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