In this study, the wind energy potential for the purpose of electricity generation in Jarandagh, Iran was investigated. The measured wind speed data collected between 2008 and 2009 at 40 m is utilized to analyze the wind energy potential and wind characteristics at 40 and 70m. According to the obtained results the annual mean wind speed at the heights of 40 and 70 were 7.74m/s and 8.73 m/s, respectively. Also, the annual mean power density vary from 324.70 to 1267.06 W/m² and from 450.28 to 1661.62 W/m², respectively. The results demonstrated that Jarandagh enjoys excellent potential for wind energy exploitation in 8 months of the year. The electricity production and economic evaluation of four large-scale wind turbine models for installation at 70m height were assessed. The energy cost estimation results showed that investing on wind farm construction using all nominated turbines is very profitable and among all turbines, Suzlon S66/1.25MW model with energy cost of 0.0357 $/kWh is the best economic option.