IDRO Mulls Over Solar Panel Manufacturing

IDRO Mulls Over Solar Panel ManufacturingIDRO Mulls Over Solar Panel Manufacturing

The Industrial Development and Renovation Organization of Iran is testing the waters to set up a plant for manufacturing photovoltaic plants in Iran.

IDRO is currently carrying feasibility studies for the plant in collaboration with Germany's Schmidt-Solar, IRNA reported.

The initiative is aimed at producing photovoltaic panels from silicon, one of the most widely-used elements used in producing solar panels globally.

State-owned IDRO is looking for an investor for the solar venture that is estimated to cost upwards of $220 million. Seven solar panel manufacturing companies are currently operational in Iran, IRNA reported.

Thermal plants that burn fossil fuels make up more than 80% of Iran's installed power capacity. The share of renewables stands at a meager 240 MW. Iranian and foreign investors are increasingly embarking on the construction of solar panel companies, which manufacture equipment for renewable power plants.

According to reports, Fars and Bushehr provinces are leading the line in developing solar panel manufacturing plants.

Iran has huge potential to harness renewable energies, including geothermal, solar and wind power.

According to the Renewable Energy and Energy Efficiency Organization, plans are in place to launch 5,000 MW in new renewable capacity, including solar and wind, by 2022.

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