Tehran Times reported that Iran and Turkey finalized an energy roadmap aimed at boosting investment and cooperation between the two countries.

Mr Majid Namjou energy minister of Iran said while speaking at a joint press conference with Mr Taner Yildiz energy minister of Turkey in Ankara that the Iranian minister hailed the efforts made by both countries' teams of experts to finalize the roadmap. The agreement will have a promising prospect for Iran and Turkey energy transactions, boosting the two countries’ electricity transmission capacity from the current 500 MW to 1000 MW.

Mr Namjou said that based on the roadmap, joint investments will be made to build thermal and hydroelectric plants as well as wind farms. The agreement is also intended to bring about further cooperation in terms of renewable energies. Iran, which holds one of the world's largest oil and natural gas reserves is Turkey's second largest energy partner after Russia.

Mr Taner Yildiz aid that the new roadmap would help create fresh investments for the benefit of both countries. The two countries agreed to establish technical committees which would pave the way for the investments in private sector especially on renewable energy.

He said that Turkey knows that Iran, Iraq, Azerbaijan, Russia and Turkmenistan are the key supplier countries and that's why we will turn to these countries to meet our demands. The Turkish government predicts that the country's electricity consumption would double by 2023.

(Sourced from Tehran Times)