\"Iran is currently supplying electricity to Pakistan, Afghanistan, Iraq and Turkey and we are planning to export power to Syria and Lebanon,\" Iranian Deputy Energy Minister for Power Mohammad Behzad told reporters. He said Iran is currently supplying 1,500mw hours of power to the foreign countries, including 300mw/h to Afghanistan and Pakistan and 1,200mw/h to Iraq and Turkey, adding that the country is boosting electricity supplies to the latter countries. The deputy minister further mentioned that Iran has increased power exports by 40 percent this year, adding that the country will make over USD1bln of revenues through power exports this (Iranian) year (March 2012-March 2013). Behzad also said that his ministry is constructing over 26 power plants throughout the country, and ensured that all projects will be accomplished in the next 12 months. In October Iranian Energy Minister Majid Namjou announced that the country had worked out agreements with Russia and Turkey to build joint power plants for power export to other countries. \"At present, we have reached an agreement with the two countries with investment and technical capabilities to build joint power plants to export the generated electricity to the neighboring or other countries,\" Namjou said in early October. He continued saying that the Iranian and Turkish sides agreed to build a power plant in Iran so that Ankara can import the generated electricity or transfer it to a third country. With the implementation of the subsidy reforms law, not only domestic electricity consumption has reduced but also annual growth in electricity demand has been checked, thus paving the way for further export of electricity to the neighboring countries. Iran has power swap deals with Armenia, Pakistan, Turkmenistan, Turkey, Azerbaijan, Iraq, Afghanistan and the autonomous region of Nakhichevan.