Arian MahTaab Gostar Company

What Arian MahTaab Gostar Company does

Arian MahTaab Gostar Company, operating under the MahTaab Group brand, is a privately-held Iranian power generation holding established in 2002 as the first private electricity producer in Iran. The company runs four divisions — Thermal, Renewable, Oil and Gas, and Mining — anchored by five wholly-owned operating subsidiaries: Rudshur Power Plant (1,137 MW combined-cycle, the largest such block in Iran), Caspian Power Plant (combined-cycle, Mazandaran), Shobad Power Plant (Kerman), Urmia Power Plant, and Siahpoush Wind Farm (Qazvin). It also operates CSR platforms including Energy Parks and a 520-system distributed solar program for female-headed households in Kerman Province.

Technically, MahTaab's competitive layer sits in combined-cycle engineering rather than software. The Rudshur conversion integrates Siemens F-Class gas turbines with triple-pressure Heat Recovery Steam Generators and a steam bottoming cycle, lifting plant efficiency from 39% in simple-cycle operation to 57% in combined-cycle mode and delivering approximately 700 million cubic meters of annual fuel savings. The company manages all of these assets with roughly 100 employees by outsourcing operations and applying standardized best practices, a structural choice that compresses fixed cost per megawatt relative to typical Iranian utilities.

Commercially, MahTaab monetizes electricity through two channels: direct sales to Iran's National Electricity Grid under long-term Power Purchase Agreements at government-regulated tariffs, and Build-Operate-Transfer contracts in which the company finances construction, operates the asset for a defined period, and then transfers ownership to the state. The Rudshur project is the marquee example, backed by approximately €300 million of total investment, including €220 million from Iran's National Development Fund routed through the Bank of Industry and Mine. Technology partners include Siemens, Siemens Gamesa, Ansaldo Energia, and MAPNA Group, with Poyry providing engineering advisory. Customer concentration is essentially the Iranian government; the CSR micro-solar program and educational Energy Parks are non-revenue extensions of the operating footprint.

Name

Arian MahTaab Gostar Company

Legal name

Arian MahTaab Gostar Production Company (شرکت تولیدی آرین ماه‌تاب گستر)

Website

https://mah-taab.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

MahTaab Group, founded in 2002, is Iran's first private electricity producer, operating thermal, renewable, oil and gas, and mining divisions. It supplies power to the national grid through wholly-owned plants, led by the 1,137 MW Rudshur combined-cycle facility, under long-term government PPAs and BOT contracts.

Ownership category

akta.pro rank

Product category

Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111), Wind Electric Power Generation (221115)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industries

Onshore Wind Power Generation (Utility-Scale) (EUACAFAA), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

Keywords

• Power generation services
• Combined-cycle power plants
• Renewable energy generation
• Build-operate-transfer projects
• Thermal power infrastructure

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sales: MahTaab generates electricity through its owned and operated power plants and sells power to Iran's national electricity grid under long-term power purchase agreements.
2. Build-Operate-Transfer (BOT) Projects: Development of power generation infrastructure under BOT contracts, where the company invests in construction and later transfers operational ownership while recouping investment through power sales during the operating period.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Arian MahTaab Gostar Company develops, invests in, and operates electricity generation assets across Iran, including thermal (combined-cycle and gas-fired) power plants, wind farms, and solar installations. The company sells electricity to Iran's national grid under long-term power purchase agreements and executes Build-Operate-Transfer (BOT) projects with the Iranian government. Its portfolio spans thermal, renewable, oil & gas, and mining divisions, anchored by the 1,137 MW Rudshur combined-cycle power plant.

Product overview

Arian MahTaab Gostar Company operates as an integrated power generation holding with four core divisions: Thermal (managing combined-cycle and gas power plants), Renewable (wind and solar), Oil & Gas, and Mining. The portfolio includes major power plants (Rudshur at 1,137 MW, Caspian, Shobad, Urmia) and wind farms (Siahpoush), alongside social impact programs like Energy Parks for education and solar installations for female-headed households. The company functions as a developer and investor holding, outsourcing operational activities while managing approximately 100 employees.

Differentiator

Problem solved

Functional benefit

Brands

• Thermal Division: Thermal power generation division handling steam and gas turbine power plants
• Renewable Division
• Oil & Gas Division
• Mine Division

Products and services

• Rudshur Power Plant Combined-cycle power plant with 1,137 MW total installed capacity using Siemens F-Class gas turbines and triple-pressure HRSG technology, achieving 57% efficiency. Operated under BOT arrangement with Iran's Ministry of Energy.
• Caspian Power Plant Combined-cycle power plant located in Nowshahr, Mazandaran Province, supplying electricity to the national grid.
• Shobad Power Plant Power generation facility in Kahnouj, Kerman Province, supplying the southern region's electricity needs. Recognized as provincial Green Industry.
• Siahpoush Wind Farm Wind farm in Qazvin Province contributing renewable energy capacity, supported by Siemens Gamesa wind technology.
• Urmia Power Plant Power generation facility supporting the northwestern region of Iran's electricity demand.
• Solar Power Systems for Female-Headed Households 520 five-kilowatt solar power systems installed across villages in Kerman Province, enabling female-headed households to generate and sell electricity.

Quantifiable outcome

• 1,137 MW total installed capacity at Rudshur Power Plant
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• MAPNA GroupcoreStrategic or Co-development PartnerMajor Iranian energy group and strategic partner in power plant development and execution. MAPNA Group collaborated with MahTaab on the Rudshur combined-cycle project and is acknowledged for its support in project implementation.
• SiemenscoreTechnology or IntegrationTechnology provider for gas turbine equipment. Siemens F-Class gas turbines were utilized in the Rudshur Power Plant's gas units.
• Siemens GamesasupportingTechnology or IntegrationPartner for wind energy technology, supporting Siahpoush Wind Farm operations.
• Ansaldo EnergiasupportingTechnology or IntegrationItalian power generation technology provider, partner in MahTaab's diversified technology portfolio.
• PoyrysupportingStrategic or Co-development PartnerGlobal consulting and engineering firm providing technical advisory services for power sector projects.
• SATBA (Renewable Energy and Energy Efficiency Organization)coreStrategic or Co-development PartnerGovernment organization overseeing renewable energy. Co-hosted wind farm site selection training at Siahpoush Wind Farm.
• Komiteh Emam Foundation (Imam Khomeini Relief Committee)coreStrategic or Co-development PartnerGovernment charity foundation providing micro-finance for female-headed household solar projects. Key partner in 520 solar power plant installation for women.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Others

• Orascom Construction: Middle East-focused infrastructure and power EPC contractor with significant thermal plant experience. Comparable as a regional partner in power plant construction, though operates as a contractor rather than an asset-owning IPP.

Broad incumbents

• Iberdrola: Global renewable-heavy utility and IPP with significant onshore wind and combined-cycle thermal exposure. Comparable in multi-fuel generation and large-scale asset ownership model.
• Enel: Global integrated utility with significant renewable and thermal generation across multiple geographies. Comparable in diversified generation mix and BOT/IPP project finance approach.
• Saudi Electricity Company: National power utility of Saudi Arabia and one of the largest in the Middle East. Comparable in scale and end-market focus (national grid supply), but a fully state-owned integrated utility rather than a private IPP.
• ENGIE: Global low-carbon energy and infrastructure operator with a sizable Middle East IPP portfolio. Comparable as a multi-technology utility-scale generator with extensive combined-cycle and renewable assets.
• Masdar: UAE-based renewable energy developer and investor active across the Middle East. Comparable as a regionally diversified renewable energy holding, though at materially larger scale and with broader technology scope than MahTaab's renewable division.

Direct peers

• ACWA Power: Middle East-focused independent power and water producer developing combined-cycle thermal and renewable projects under BOT/PPP structures. Closely mirrors MahTaab's business model of utility-scale generation under long-term government offtake.
• MAPNA Group: Iran's largest energy group, combining power plant EPC, O&M, and ownership. MAPNA is explicitly identified as MahTaab's strategic partner on the Rudshur project and competes for the same BOT tenders and thermal generation assets in Iran.
• Ghods Niroo: Iranian private EPC contractor and power plant developer active in thermal and combined-cycle generation. Competes with MahTaab for Iranian BOT contracts and shares the same customer base (Iran's national grid).

Regional players

• Elsewedy Electric: Egyptian integrated energy and infrastructure group with thermal power, renewables, and electrical equipment. Comparable as a regional power developer-investor serving Middle East/African markets with similar multi-fuel diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mahtaabgroup
• Facebookfacebook.com/mahtaab.group
• LinkedInlinkedin.com/company/arian-mahtaab-gostar

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arian MahTaab Gostar Company