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Iran going for renewable energy

Iran signs landmark $6 billion power deal, Press TV, 4 Nov 15   The Iranian government says it has signed an agreement worth $6 billion with a European company to build 4,250 megawatts of power capacity in the country. 

The agreement between Iran’s Ministry of Energy and the foreign firm envisages developing gas-powered plants for 3,250 MW and wind farms for 1,000 MW of electricity, Government spokesman Mohammad Baqer Nobakht said.

“This big investment will be made in the current year (ending on March 20, 2016) under the existing political conditions where the Joint Comprehensive Plan of Action and the lifting of sanctions has not started yet,” he said……..

Renewable projects 

The government is eyeing renewables as the new alternative to fossil fuels which constitute about 90% of Iran’s energy mix.

The existing renewable capacity is focused on hydro power plants which produce about 8,500 MW. Just 150 megawatts of green power plants are currently operating in the country.

The government plans to install 5,000 MW of renewable capacity, putting Iran among the likes of the UK and France in this category. The Ministry of Energy is already implementing 500 MW wind converters and further 100 MW biomass projects.

The Middle East’s first geothermal power plant, a 50-megawatt pilot project, is being built at the foot of an inactive volcanic peak in northwest Meshguin Shahr.

However, Iran’s renewable energy potential is huge where only the wind capacity is estimated at 30,000 megawatts.

Foreign projects

German companies are reportedly about to begin next year building wind farms in Iran at a cost of $331 million. In August, they signed a document for generation of 100 MW of wind power plus 400 MW of solar in the southern Khuzestan province.

Italy’s Fata, the engineering unit of leading industrial group Finmeccanica, also signed then a 500 million euro ($543 million) contract with Ghadir Investment Company to build a power plant in Iran.

A consortium of Iranian, Indian and South Korean companies further seeks to set up an energy park in the Khuzestan province in a project worth $10 billion, including generation of 1,000 megawatts of solar power. http://www.presstv.com/Detail/2015/11/04/436250/Iran-electricity-investment-Europe-renewables

November 9, 2015 - Posted by Christina Macpherson | Iran, renewable