Iran is ready to challenge regional neighbors in a race to claim a bigger share in Iraq’s emerging power market after the sanctions against the Islamic Republic are lifted, the head of Iran Electricity Industry Syndicate said on Wednesday.
“We have achieved the technology to produce high-voltage 63-400 kilovolt power cables. We are ready to export electrical goods, services and knowhow to Iraq in the post-sanctions period,” Alireza Kolahi was quoted as saying by Mehr News Agency.
The official described Iraq as a “strategic market” and estimated the country’s cable market at more than $900 million.
Iran previously imported high-voltage cables mainly from Japan and South Korea, but domestic production of this key electrical equipment is estimated to reduce its imports by 20%.
“Central Asian countries such as Turkmenistan is the main destination of power equipment export,” he said, adding that the export of power equipment and technology comprises nearly 80% of the country’s total technical and engineering exports.
Iran’s electricity industry ranks 14th in the world and first in the Middle East in terms of electricity generation with an installed power generation capacity of 74,000 MW.
The country is the largest exporter and importer of electricity in the Middle East and exports electricity to Armenia, Pakistan, Turkey, Iraq and Afghanistan. Azerbaijan and Armenia supply electricity to Iran under a swap agreement.
