According to Titr Sanat, Mohsen Seyfi, speaking at the ceremony attended by Seyed Kazem Mortazavi Osku’i, Deputy for Branch Affairs, along with several senior managers of the bank, highlighted the historic and significant role of Bank Saderat Iran in supporting the country’s power industry as one of the main pillars of industrial and economic development. He stated:

Bank Saderat Iran’s record in financing national infrastructure is outstanding, and we are pleased that, for the fourth consecutive year, we are renewing the cooperation agreement with Tavanir at this critical and important stage for the country’s power industry.

He emphasized that strategic cooperation with the country’s power industry in the areas of electricity generation, transmission, and distribution, as well as providing various financial and banking services to Tavanir and its subsidiaries, is one of the bank’s top priorities. He added that Bank Saderat Iran has an active presence in the Energy Exchange and is fully prepared to support the power industry and help address its financing challenges.

The CEO of Tavanir also expressed his appreciation for the support of Bank Saderat Iran, stating: ‘Bank Saderat Iran has always been a supporter of the power industry. One of the key strategies Tavanir is pursuing to overcome system imbalances is the smartening of the electricity network, and Bank Saderat Iran has played a pivotal role in this process.

Mostafa Rajabi Mashhadi, referring to the financial support provided by the bank last year, added: ‘With the signing of this memorandum and the allocation of letters of credit to Tavanir’s subsidiary companies, we hope to minimize existing imbalances and pave the way for further development of the country’s power industry.’

According to this report, over the course of the previous three phases of cooperation, Bank Saderat Iran has played a significant role in financing development projects and the smartening of the electricity network, providing more than 70 trillion rials in sight letters of credit to Tavanir and its subsidiary companies.

As part of this ongoing strategic cooperation, Bank Saderat Iran also officially commenced its presence in the Energy Exchange last week—an initiative that opens a new pathway for financing energy procurement by distribution companies and supports the continuation of the country’s electricity network modernization and smartening programs.