Satkat, a local private company, is expected to enter negotiations with Tavanir by early October for the scheme, known as Zanjan 1, with the aim of agreeing terms for an ECA by next March. Tavanir is also preparing to sign ECAs for Zanjan 3 with the government-owned Social Security Fund and Zanjan 4 with Bank Melli International Investment Company. Each Zanjan IPP will have capacity of 500 MW.

Plans for a Zanjan 2 IPP are on hold until a new investor can be found, following last September’s unsuccessful tender aimed at international developers.