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Al-Mahdi made the remarks in a meeting with Iranian Energy Minister Reza Ardakanian in Baghdad on Thursday.
Iran's Ambassador to Iraq Iraj Masjedi and Iraq's Minister of Electricity Luay Al Khateeb were also present in the meeting.
The Iraqi Prime Minister said Baghdad is ready for cooperation with Tehran to find suitable solution to expand relations with Iran in energy.
He said Iraq should succeed in electricity generation.
Ardakanian and Al Khateeb on Thursday signed a Memorandum of Understanding (MoU) for energy cooperation after two days of intensive talks.
The Iranian minister extended Iranian president Hassan Rouhani's congratulation to Iraqi Prime Minister for formation of new Iraq government.
He said Iran is fully ready to supply energy to Iraq, contribute to its power plant establishment and reconstruction projects and train necessary workforce for the purpose.
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