In line with the official policies of Iran on establishing private power plants, MAPNA International FZE and IHAG collaborated in establishing the South Isfahan Power Plant Company in Jebel Ali Free Economic Zone in the UAE, with a share of 80 per cent for IHAG and 20 per cent for the MAPNA FZE in 2004 after an agreement with TAVANIR Company in a BOT (Build, Operate, Transfer) scheme. The contract included management, investment, build, and operation for 20 years, and transfer to TAVANIR Company A consortium of MAPNA and MAPNA International FZE signed the contract with TAVANIR, and operation of the power plant was assigned to this consortium.

South Isfahan Power Plant was inaugurated as the country’s first private power plant in February 3, 2006, and after one year of selling its electricity to national grid, joined the grid in full operation.

South Isfahan Power Plant has contributed 35311274 MWh of electricity to the national grid since first operation in late December 2014. In the same period, the performance indices of the power plant exceeded far beyond the guarantees specified in the contact agreement. The annual average guaranteed energy generation 5,700,000 MWh, which lies far below the current pace of generation.

Since starting operation, South Isfahan Power Plant has proved dedication to clean power generation. It complies with UN Clean Development Mechanism (CDM) and has implemented the IGV+ initiative in units I, II and III. The power plant holds a 1.25 percent share of national grid.