Iran is likely to supply 5,000 MW of electricity to India as power exports are more cost-efficient, says an Iranian media report.
Quoting Iran's energy minister Majid Namjou, the Press TV has said that India has indicated its willingness to import 5,000 MW of electricity from Iran.
"Transferring electricity is less costly compared to (exporting) natural gas," Namjou was quoted as saying to reporters on Sunday.
"India is currently a pioneer country in the production of renewable energies and we are planning to develop renewable energies in our country in cooperation with this Asian state," Namjou said.
As per the report, India is currently producing 17,000 MW of power from renewable energy sources. Therefore, India can share its experience in the development of power plants operating on renewable energies with Iran, it added.
At present, however, there is no grid connection between India and Iran.
Iran's oil ministry on February 21 inked the first gas-to-wire contract for converting natural gas to electricity and exporting power to neighboring countries.
Going by the contract, the ministry would first develop the offshore Forouz B gas field in the Persian Gulf whose natural gas would be then used to generate power.
"The $3.8-billion buyback contract was signed between the MAPNA Co and the National Iranian Offshore Oil Company, an affiliate of the National Iranian Oil Company, to generate 3,000 MW of electricity from the field," the report said.
According to Press TV, Iran is currently exchanging electricity with Afghanistan, Armenia, Azerbaijan, Iraq, Pakistan, the Republic of Nakhichevan, Turkey and Turkmenistan.