Wartsila signs decentralized energy pact with Iran

Wartsila is to develop decentralized power generation in Iran with the country’s largest industrial corporation.

The Finnish company signed a memorandum of understanding with Industrial Development & Renovation Organization of Iran (IDRO) during a visit to Iran by Finland’s President Sauli Niinisto.

The pact covers power plant operations and maintenance services and related liquefied natural gas infrastructure.

Wärtsilä will provide relevant expertise and resources to support IDRO in its objective to improve the infrastructure and develop the Iranian industry. 

Javier Cavada, President of Wärtsilä Energy Solutions, said: "With this agreement, Wärtsilä is showing its commitment to support the development of the Iranian industry and power generation sector, on the basis of a mutually beneficial relationship."

The Iranian government plans to grow the country’s power capacity by at least 25 GW in the next five years and is to invest more than $100bn in its oil and gas industry.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...

Reach New Heights: Six Best Practices in Planning and Scheduling

These 6 best practices have created millions of dollars in value for many global companies. Learn...

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...