The new power plant at Khodaafarin Dam will be jointly built by two neighbouring nations, agreed on Baku and Tehran, MehrNews reported.
Azerbaijan and Iran have signed an agreement, under which the two countries will build a hydroelectric power plant at the Khodaafarin Dam. The sides have discussed their disagreements over the financial calculations of the future dam power plant.
“One of the major projects that its executive operations started about 20 years ago was the Khodaafarin Dam on the Aras River border,” said Minister of Energy of Iran Reza Ardakanian on Wednesday.
For both Iran and Azerbaijan, the dam is important. The powerful object could also regulate about 1.6bn cubic meters of water annually. Minister Ardakanian added that the Khodaafarin Dam also will improve irrigation of the agricultural land. Two hydropower plants with a total capacity of 280 MW can generate electricity are able to improve the situation in both countries.
Commenting on the agreement signed between the government of Iran and Azerbaijan, the Iranian top official said that the financial calculations of the Khodaafarin Dam power plant are completed.
“Yesterday, we agreed with the Azerbaijan Deputy Prime Minister Shahin Mostafayev on this issue and we will immediately start building hydroelectric power plants at the Khodaafarin Dam,” Ardakanian said.