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Iran approves $3bn foreign investment in renewable projects

Staff Writer |
Energy Minister Hamid Chitchian said that applications for foreign investment in Iran’s renewable energies up to $3 billion has been approved by the Finance Ministry.

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Addressing the inaugural ceremony of executive operations for the second cooling towers of Shahid Mofatteh Power Plant in Hamedan on Saturday, he added that so far foreigners have applied for investment to the tune of 1,500 megawatts of renewable energies in Iran which have been approved by the Finance Ministry.

Two seven-megawatt solar power plants and executive operations to launch three more were inaugurated in Hamedan province, he said.

Meanwhile, operations to launch cooling tower of Mofatteh power plant started today, a project indicating the government and Energy Ministry’s attention to the environmental issues, he said.

Iran has voluntarily declared its serious participation in stepping up its share of renewables for producing electricity and it will set up renewable power plants with a capacity of 7,500 megawatts by 2030, the minister said.

Chitchian further noted that under the commitment to cut greenhouse gas emissions, Iran has prepared all conditions for utilizing renewable energies.

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