Foreign Firms Keen on Energy Projects

Foreign Firms Keen  on Energy ProjectsForeign Firms Keen  on Energy Projects

Deputy energy minister, Houshang Falahatian said Tuesday some leading European companies have expressed interest in collaborating with Iran's electricity industry.

There has been a growing interest from international companies to invest in the energy sector, Falahatian said, adding: "We have received several applications from European and non-European companies."

Two proposals for the construction of 500 and 1000 megawatt (MW) solar power plants have been submitted by foreign companies,Mehr news agency quoted him as saying. No details were available.

"We endeavor to take advantage of these companies capacity to install solar and wind power plants, improve the output of existing power plants, and build new ones," Falahatian said. Iran is creating the conditions that can be beneficial to both Iranian and as well as foreign investors, he continued.     

Growing cooperation between the energy ministry and Russia will increase several fold the volume of transactions with that country, said Falahatian. According to the recent MoU between the two countries, the framework for cooperation has been established. “In the coming months new contracts will be signed allowing Russia to invest in construction of new power plants.”

Falahatian had said earlier, that the ministry plans to establish a special zone for renewable energies in Khaf, Khorasan Province. Iran needs to generate 5,000 MW of renewable energies by 2015 as stipulated in the Fifth Five-Year Economic Development Plan (2011-16).

According to Yousef Rashidi, an official at Iran’s Department of Environment, currently, 300-350 MW of renewable energy is produced in the country. Rashidi said Iran ranks seventh in the world in terms of production of greenhouse gases.