Pasargad Energy Development Company
Pasargad Energy Development Company (PEDC) is a private Tehran-based energy holding founded in 2008. Its three platforms cover upstream oil and gas, downstream refining and petrochemicals, and power and utilities, supported by 28 affiliated companies. With major thermal, cogeneration and renewable assets across Iran, PEDC is a significant counterparty for energy infrastructure, industrial technology, services and product-trading relationships.
Market position
PEDC describes itself as Iran’s largest private power and utility company, with about 3,000 MW of generation across six thermal and renewable plants. It also states that NIOC ranked its exploration and production platform first among Iranian E&;P companies, with capacity for projects up to US$12 billion.
Operations & footprint
Products and services
Pasargad Energy Development Company operates as an energy holding and oil and gas platform with activities in exploration and production, integrated drilling services, field operation, refining, petrochemicals, power, renewables, infrastructure, trading, and management of energy-sector subsidiaries or projects.
Operations and assets
Power assets include the 1,444 MW Urmia Combined Cycle Power Plant, 400 MW Pasargad Qeshm Water & Power Cogeneration Plant, 350 MW Khoy Combined Cycle Power Plant and 25 MW Sirjan Power Plant. PEDC also holds a tender award to construct and operate 24 solar plants totalling 1,500 MW across 12 Iranian provinces.
Geographic footprint
Headquartered in Tehran, with identified power assets or operations in Qeshm, Urmia, Khoy and Sirjan.
Ownership & group structure
Subsidiaries and group companies
Three specialised subsidiary platforms—Upstream Oil & Gas, Downstream Oil & Gas, and Power & Utility—and 28 affiliated companies.
Commercial and investment relevance
PEDC is relevant for investors assessing Iran's private energy holdings, upstream participation, refinery and petrochemical exposure, energy-project finance, and counterparty risk around oil and gas assets. It can support analysis of how private-sector capital enters energy projects, how subsidiaries interact with NIOC or other public-sector clients, and where project-development capacity exists outside fully state-owned operators. Due diligence should verify ownership, subsidiary structure, field interests, sanctions exposure, financing sources, trading activity, contract terms, and related-party risks. PEDC is a cross-value-chain counterparty for drilling and field services, refinery and petrochemical development, MTO technology, power equipment, plant operations and energy-product trading. Its thermal, cogeneration and renewable portfolio also creates procurement and partnership relevance in generation, water-power integration and solar delivery.
Constraints, risk & compliance
Key risks and constraints
Execution demands are elevated by PEDC’s large, capital-intensive portfolio across upstream projects, refineries and petrochemicals, thermal generation, cogeneration and a 1,500 MW solar tender programme. Commercial outcomes depend on project delivery, plant availability, feedstock and power-market arrangements, and the conversion of development awards into operating assets.
Sanctions and compliance considerations
PEDC operates in Iran’s oil, gas, petrochemical and power sectors and has energy-product trading activities. Transactions involving the group require sanctions, export-control, banking and counterparty screening tailored to the relevant jurisdiction and contract.
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Frequently asked questions
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What does Pasargad Energy Development Company do?
PEDC is an energy holding active in upstream oil and gas, drilling and reservoir modelling, refining and petrochemicals, energy-product trading, and thermal and renewable power generation.
Where is Pasargad Energy Development Company headquartered?
PEDC is headquartered at Pasargad Building, No. 139, Mirdamad Boulevard, Tehran, Iran.
What power assets does PEDC operate?
Its identified assets include the Urmia Combined Cycle Power Plant, Pasargad Qeshm Water & Power Cogeneration Plant, Khoy Combined Cycle Power Plant and Sirjan Power Plant. The group cites approximately 3,000 MW of generation capacity.
Is Pasargad Energy Development Company publicly listed?
PEDC operates as a private company.