75867
 Rafsanjan Solar Power Plant
 Rafsanjan Solar Power Plant

Iran Ratifies $7.3b Worth of Foreign Investments in Renewables

Iran Ratifies $7.3b Worth of Foreign Investments in Renewables

The government has commissioned the construction of €6.3 billion ($7.3 billion) worth of renewable power plants through foreign investment, government's spokesperson said, as Iran takes steps to diversify its energy mix that is dominated by oil and gas.

Speaking at the closing ceremony of an electricity exhibition in Tehran this week, Mohammad Bagher Nobakht said the new spending will help significantly raise the share of renewables in a country with ample sunlight exposure and huge capacity for wind power.

"The Economic Council [of the government] has approved €6.3 billion in investment for over 8,000 megawatts of renewable power projects," Nobakht was quoted as saying by ILNA.

The promising statement comes on the back of a wave of deals with international companies to build renewable power plants in Iran, including a $2.9-billion preliminary agreement with Norway's Saga Energy and a $600-million contract with London-based Quercus for solar ventures.

Iran meets more than 80% of its electricity demand from thermal power plants that run on fossil fuels while renewables account for a meager 420 megawatts, or less than 1% of its energy mix.

Short URL : https://goo.gl/jrNKvA
  1. https://goo.gl/Tk1Qtq
  • https://goo.gl/EqmNKq
  • https://goo.gl/uJDHrt
  • https://goo.gl/vgS9N5
  • https://goo.gl/Tv28zN

You can also read ...

 TCCIMA Secretary-General Bahman Eshqi speaking in Vienna on Nov.16
Iranian banks are expected to open their first branches in...
Iran has 9,000 online retail stores.
With the ever-growing developments in the World Wide Web,...
Helping the Quake-Stricken?  Not If They Are Iranians!
Iran is a hotspot of earthquakes and several of them have...
Tehran-Accra Expand Agro Coop.
Three memoranda of understanding were signed between Iran’s...
USD at  41,000 Rials
After the US dollar’s recent bull run that pushed the value of...
NIOC has concluded MoUs with Austria’s OMV and Thailand’s PTTEP for undertaking surveys on the oilfield.
Singapore-based Berlanga Group has signed a memorandum of...
The first Iran-Luxembourg Forum opened on Wednesday and hosted...
Tesla Roadster Speeds in Front of Electric Truck
Tesla Inc upstaged its own debut of an electric heavy duty...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus