One of South Korea's largest conglomerates, SK Group partnered with Turkish Unit International Energy to make energy investments in Iran, Unit Energy announced on Monday.
SK Group formed a partnership for 30 percent of Unit International, a subsidiary of Turkish firm Unit for approximately €1 billion.
Unit International was established to make energy investments in Iran, specifically to set up, build and operate five gas-fired power plants for a total of 5,000 megawatts in four different locations throughout the country.
The partnership means a joint investment of about €3.4 billion.
Previously, Unit International completed the construction of five power plants in Iran with 3,210 megawatts of installed capacity.
The company also built four power plants in Turkey and two in Europe with innovative finance models, some of which were awarded by international financial institutions.
By Murat Temizer