South Isfahan Power Plant FZCO

Status:
High Alert – Entity affiliated with Designated / Sanctioned / Illicit entities

Info:
South Isfahan Power Plant was inaugurated as the country’s first private power plant in February 3 2006, and having sold for a year 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;

In 2010, IFIC Holding financed a Dubai-based company called South Isfahan Power Plant FZCO. The company was established for the sole purpose of buying and re-exporting components for a power plant in Iran, which was established with the help of IFIC Holding and World Bank funds in 2004;

Germany’s IFIC Holding AG (IHAG) has been a MAPNA partner in building South Isfahan Power Plant;

According to reports Iran Foreign Investment Company (IFIC) owns 20% of South Isfahan Power Plant FZCO;

Iran Foreign Investment Company is used by the mullahs to invest money around the world and is investment arm of the “Oil stabilization Fund”. The U.S. Department of the Treasury identified Iran Foreign Investment Company (IFIC) to be owned or controlled by the Government of Iran. By identifying these entities – including banks, investment companies and technology firms – U.S. persons and others are better able to identify Iranian Government entities and protect themselves against the risks posed by such entities. IFIC is added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on 11/05/2018;

Country:
UAE

Address:
Dubai – UAE

Phone:
048817187

E-mail:
[email protected]

Reason for the color:
» IFIC owns shares of South Isfahan Power Plant;

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