The contract for the Hormozgan Gas Power Plant project was signed on June 19, 2002 (29/03/1381 in the Iranian calendar) between the Iran Power Development Organization as the employer and MAPNA Company as the main contractor on a turnkey basis. Moshanir Company was selected as the project consultant, and Alstom Switzerland was chosen as the supplier of the main equipment. The supply of other equipment and operations, based on the project execution strategy—which essentially relied on utilizing the technical knowledge and high capabilities of the country’s industry—was assigned to domestic contractors.

Following the approval of the High Council for Divestment and the ratification of the transfer of shares of Persian Gulf Power Generation Company to the Social Security Organization, the company’s articles of association were amended by the Privatization Organization. After four years, under Transfer Contract No. 25567 dated February 7, 2017 (19/11/1395), concluded between the Privatization Organization and the Social Security Organization, the Persian Gulf Power Generation Company was officially handed over to the Social Security Organization.

The Persian Gulf Gas Power Plant is located 45 kilometers northeast of Bandar Abbas and 11 kilometers from the Sarkhun gas field. The plant has a generation capacity of 990 megawatts, consisting of six 165 megawatt gas units built on an area of 100 hectares. It produces approximately one third of the electricity required by Hormozgan Province.

It should be noted that until October 18, 2016 (27/07/1395), the Persian Gulf Power Generation Company was managed by Tavanir Company. From that date until its transfer to the Social Security Organization, and based on the resolution of the Extraordinary General Assembly of Shareholders dated October 18, 2016 (27/07/1395), Tavanir’s shares were transferred to the Thermal Power Plants Holding Company, under whose management the company operated.

On May 26, 2019 (05/03/1398), the Persian Gulf Power Generation Company was officially taken over by the Social Security Organization, and since then it has operated as one of the subsidiaries of Tamin Energy Development Management Company.