TEHRAN – Based on the national budget bill for the next Iranian calendar year (begins on March 21, 2022), the government is allowed to construct nuclear power plants for the generation of 10,000 megawatts (10 GW) of electricity in collaboration with foreign or local investors and under the supervision of the Atomic Energy Organization of Iran (AEOI).

According to the AEOI Head Mohammad Eslami, the construction of the mentioned power plants requires $40 billion of investment and is expected to begin in the next Iranian calendar year, Mehr News Agency reported.

As reported, the financing of the mentioned power plant projects is going to be done using foreign investment, domestic financing, public resources, and the acquisition of capital assets.

The executive financing plan will be prepared and announced by the Atomic Energy Organization of Iran in collaboration with the Planning and Budget Organization (PBO) and the Ministry of Finance and Economic Affairs.

In the past decade, constant temperature rising and the significant decrease of rainfalls across Iran have put the country in a hard situation regarding electricity supply during peak consumption periods.

Over the past two years, however, new deteriorating factors including the pandemic and a new wave of illegal cryptocurrency mining across the country have also worsened the situation.

To compensate for the power shortage, the Energy Ministry has been taking various steps including the construction of new power plants, adding new units to the existing power plants, and promoting management programs.

According to Energy Minister Ali-Akbar Mehrabian, the ministry is following a comprehensive program for adding 30,000 megawatts to the country’s power generation capacity by the end of the current government incumbency (August 2025).

Back in November, Mehrabian said his ministry was planning to construct and put into operation 21 new power plant units by the next summer’s peak consumption period (Iranian calendar’s summer begins on June 22).

Speaking in a meeting with the members of the Parliament Energy Committee on November 3, the minister said: “According to the plan submitted to the parliament, the Ministry of Energy will increase the capacity of the country’s power plants by 30,000 megawatts.”

"Currently, for the next year’s summer peak [consumption period], we are taking the necessary measures to bring 21 new [power plant] units on stream; Of course, the exact schedule for the operation of these units is prepared and will be provided in the form of weekly reports,” he added.

He further noted that the construction of 10,000 MW capacity of power plants has also been started by various industrial sectors, saying: “four major industries have started their work in the field of power plant construction. Based on the contract concluded with these industries, the said industries will not be provided with electricity from the national grid if they cannot deliver the power plants based on the specified schedule.”

EF/MA