Iran’s Deputy Energy Minister Alireza Daemi announced that the Iranian government will now allow foreign companies to export part of the electricity which they generate in the country, reported Press TV.

He was speaking to representatives of Korean companies, saying that the Iranian government had envisaged very attractive terms for cooperation with foreign investors, including guaranteed purchases of electricity from the producers and allowing them to export to Iran’s neighbors.

“Joint projects in the third countries can be part of the agreement because Iran has suitable grounds for execution of various projects in neighboring countries such as Turkmenistan and Tajikistan,” he said.

The deputy minister added that at the moment, 80 projects are being carried out around the world together with Iranian companies, said Trend News Agency.

The implementation of new joint projects with South Korea would benefit both sides, as Iran has great potential in the field of wind and solar energy, while South Korea has advanced technologies and expertise in this area, he explained.

Germany, Italy and South Korea have expressed interest in the construction of power plants in Iran.