Search Site

Trends banner

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Iran and Turkey to utilize modern tech for electricity exchange

Iran and Turkey are set to enhance their electricity exchange capabilities through the implementation of modern technology. (AFP/Representational pic)
  • The Iran Grid Management Company and the Turkish Electricity Transmission Company (TEIAS) will operationalize the Khoy-Van grid line
  • The agreement sets the stage for full-scale operation, opening avenues for electricity exchange between Turkey and several European countries

Tehran, Iran – Iran and Turkey are set to enhance their electricity exchange capabilities through the implementation of modern technology, according to Mehdi Moghimzadeh, the head of Iran’s Iran Grid Management Company.

“With the signing of the contract for the operation of 400-kilovolt BtB HVDC line between Khoy (Iran) and Van (Turkey), it is possible to exchange electricity between the two countries with modern technologies”, Moghimzadeh said in an interview with IRNA.

The technological advancement is expected to facilitate the export of electricity from Iran and Turkey to Europe. Moghimzadeh stressed that the cooperation in electricity trade is a significant step forward, fostering stronger ties between the neighboring countries while concurrently diversifying energy sources and reducing dependence on other means.

Highlighting the mutual advantages in terms of energy production and geographical location, Moghimzadeh underlined the potential for electricity trade or transit with other countries beyond the existing exchanges with nations in the Caucasus, Central Asia, South Asia, and West Asia.

The Iran Grid Management Company and the Turkish Electricity Transmission Company (TEIAS) formalized their commitment to operationalize the Khoy-Van grid line through an agreement signed during President Ebrahim Raeisi’s recent visit to Ankara.

Moghimzadeh noted that the successful pilot operation of the BtB HVDC took place last year, and the recent agreement sets the stage for full-scale operation, opening avenues for electricity exchange between Turkey and several European countries.