April 25, 2020 21:50

Green Energy Gets a Shot in the Arm From Majlis

With the new law, the government will be able to encourage private companies to invest more in renewables because such firms played an important role in the expansion of green energy in the recent past

The Majlis has passed a law stating that 25% of the value added tax on the electricity bills should go for promoting the Renewable Energy and Energy Efficiency Organization (Satba), director general of parliamentary affairs of the Energy Ministry said.
“It is allocated to Satba to guarantee the purchase of power from non-state renewable electricity producers, especially those in deprived and rural areas,” IRNA quoted Davoud Kamkar as saying.
Revenue for Satba from implementation of the new VAT law by the end of the current year (March 2021) is estimated at $25 million, he added.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Solar Power Plants in Iran