Russia and Iran agree to $25 billion deal to build multiple nuclear power plants in Iran
Russia and Iran have signed a $25 billion agreement for the construction of multiple nuclear power plants in Iran, specifically in the Hormozgan province. The deal, involving Russia’s Rosatom Project Company and Iran’s hormoz Company, includes building four advanced third-generation nuclear reactors. This marks Russia’s second time constructing nuclear plants in Iran,following the Bushehr plant,operational as 2010.
The collaboration aims to advance Iran’s nuclear energy capabilities, including the progress of small-scale modular reactors, which are seen as a future trend in power generation. Officials highlight the strong political and technical cooperation between the two countries. The agreement was signed by the heads of rosatom and Iran’s Atomic Energy Organization, with plans for more plants, totaling eight nuclear power units, four of which will be at Bushehr.
This pact occurs amid ongoing geopolitical tensions: Russia’s conflict with Ukraine and Iran’s strained relations with Israel, and also pending U.N. sanctions over iran’s nuclear activities. Despite these challenges, the deal reflects continued close nuclear cooperation between Russia and Iran.
Russia and Iran agree to $25 billion deal to build multiple nuclear power plants in Iran
Russia and Iran announced on Friday a $25 billion deal to build multiple nuclear power plants in Iran.
The agreement is between Russia’s Rosatom Project Company and Iran’s Hormoz Company, according to reports. The deal includes the construction of four “advanced third-generation nuclear power plants” in Iran’s Hormozgan province.
The announcement comes as Iran and Russia are involved in consequential but separate geopolitical quagmires. Russia is currently engaged in a war with Ukraine and has come under scrutiny lately for repeatedly violating the airspace of several European countries with drones and aircraft. Iran was in a 12-day conflict with Israel over the summer and is on the verge of receiving sanctions by the U.N. over its nuclear program.
Additionally, the U.S. bombed several of Iran’s nuclear sites in June.
It marks the second time Russia has built nuclear power plants in Iran. The country previously built the plant at Bushehr, which became operational in 2010. The city will also be the site of multiple plants built by Russia.
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“We have a power plant that has been active with Russian assistance for more than 12 years and is continuously evaluated by the ‘VANO’ Nuclear Association in terms of safety,” said Behrouz Kamalvandi, spokesman for the Atomic Energy Organization of Iran. “The Bushehr Nuclear Power Plant has always received the highest score from the ‘VANO’ Nuclear Association, 100 out of 100, which indicates the quality of this power plant and, of course, the good and appropriate political relations between the two countries. It is natural that cooperation in this area should be developed further.”
“The issue of small-scale power plants is also of great importance, because the future of the world is moving towards such power plants,” Kamalvandi said to Iranian state media. “These power plants are modular and have the ability to be replicated. We can receive an important part of their construction technology from Russia. In this regard, a memorandum of understanding was signed, and a team from Russia is scheduled to travel to Iran for further follow-up.”
Rosatom Director General Alexey Likhachev and Mohammad Eslami, the head of the Atomic Energy Organisation of Iran, signed the agreement.
“These reactors will play an important role in the development of technical knowledge and nuclear technology and industries related to the manufacture of power plant tools and equipment in Iran,” said AEOI. “In addition, the acquisition of small-scale modular reactor technology can provide a new capacity to power large industries and balance the electricity network.”
Russia has long supported Iran’s development and use of nuclear energy for domestic purposes. A Rosatom spokesman said the meeting was productive and “took place in an atmosphere of mutual trust, openness, and constructiveness.”
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Eslami briefly commented on the agreement’s contents, mentioning that it involved eight nuclear power plants, four of which are in Bushehr.
“The contract between the governments of the two countries envisages the construction of eight nuclear power units by Russia, four of which are in Bushehr,” Eslami said.
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