Iran has signed a $25 billion agreement with Russia’s state nuclear corporation Rosatom to build four nuclear power plants on Friday.

Rosatom had earlier announced on Wednesday that it signed a memorandum of understanding on the construction of small nuclear power plants in Iran, without specifying the number.

According to the Iranain media IRNA, the deal covers the construction of Generation III plants on a 500-hectare site in the Sirik region of southeastern Hormozgan province. The plants are expected to generate 5,000 megawatts of electricity. The memorandum of understanding was signed in Moscow.

Iran, which has faced electricity shortages during periods of high demand, currently operates only one nuclear power plant in the southern city of Bushehr. Built by Russia, the Bushehr plant

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