Turkish energy company Unit International announced on Saturday that it made a $4.2 billion deal with Iran to build 7 power plants which have 6,020 megawatts installed capacity.
Construction of power plants will start in the first quarter of 2017, the company said in a statement.
Unal Aysal, the head of company, said that his company have been working in Iran since 1982 and they signed a 20 years contract with Iran Energy Ministry.
"Iran will supply natural gas to us for 20 years and we will sell the electricity for 6 years with agreed price. This deal is an pioneer agreement regarding expansion of Iran's market to foreign capital. Mutual trust and friendship which going back many years, provide us to create a model which can open the doors for capital flow into Iran" said Aysal who is also the former chairman of major Istanbul soccer club Galatasaray.
The power plants will be constructed under the deal would meet 10 percent of Iran's energy needs, Aysal said.
Parties negotiated through one year, more than 1 thousand hours for this deal, said Mohsen Tarztalap, the general director of Thermal Power Plant Holding, TPPH [the company signed the deal in behalf of Iran Energy Ministry].
Tarztalab said that Iran's natural gas combined cycle plants have outdated technology, new plants will be 2 times more efficient and it means less natural gas consumption.
"The agreement that we signed with Turkey is an exemplariness deal for all other foreign investors" Tarztalab added.
Previously, Unit International completed the construction of 5 power plants with 3,210 megawatts installed capacity in Iran.
Company also accomplished 4 power plants in Turkey and 2 power plants in Europe with innovative finance models and some of them are awarded by international financial institutions.
