Turkey-based energy companies, Aksa and Kartet, have received approvals from the country's energy market watchdog, EPDK, to export power worth about TRY400m ($211m) annually to Iraq.

The EPDK said that it was looking for a Turkish legal person who wanted to export power to Iraq through the existing 154kV PS3-Zakho power transmission line earlier.

EPDK head Hasan Köktas said that both the two companies have been awarded the license to export around 2 billion kilowatt-hours of electricity annually.

Aksa and Kartet will have the equal rights to export power to the Mosul region of Iraq, reported hurriyetdailynews.

Kartet has earlier supplied electricity to Iraq between 2003 and 2008, however sales have now dropped due to security issues and a dispute over payment.

Köktas also said that Turkey and Georgia aims to complete their investment plan to create the capacity of 700MW of power transmission between the two countries.

"Turkey’s power market has recently been so developed that it is possible now to export power to Turkey’s neighboring countries. As soon as the interconnection investments are completed, Turkey will reach a much better position in terms of guaranteeing its energy supply and extending its power trade," Köktas added.