DUBAI: Iran's state-run electricity firm Tavanir on Friday signed a deal to extend exports of 1,200 megawatts to neighbouring Iraq, state news agency IRNA reported.
The two countries also signed initial accords in Tehran on power production, exports and technology transfers, IRNA said.
"Debts have been scheduled and repayments have started," Iranian electricity minister Reza Ardakanian was quoted as saying at the signing ceremony.
He did not give the value of Iraq's debt to Iran for the power exports.
On Tuesday, Iran's oil minister said that Iraq owed it $2 billion for gas and electricity exports.
In December, the United States extended for 90 days a waiver granted to Iraq from sanctions against Iran, allowing Baghdad to keep importing Iranian gas that is critical for Iraqi power production.
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