BAKU, Azerbaijan, October 4. The Economic Council of the Cabinet of Iran has taken a significant step towards increasing the country’s reliance on renewable energy by approving the establishment of new solar power plants, Trend reports.
On October 4, 2023, the Economic Council of the Cabinet of Iran has made a decision on establishment of new solar power plants in the country.
These plants are expected to have a combined capacity of 15,000 megawatt-hours of electricity and will be built in three stages at an estimated cost of $8.3 billion.
The private sector will be responsible for the construction, with approximately 80 percent of the funds coming from the National Development Fund of Iran. The condition for this financial support is that it must be repaid within 5 years.
This initiative not only contributes to environmental protection but also addresses the need for increased electricity production in Iran. Overall, it’s a positive move towards sustainable energy solutions in the country.
By the end of the last Iranian year (March 20, 2023), the electricity production capacity of renewable energy power plants in Iran was about 1,040 megawatts.
At present, the power generation capacity of Iran's all power plants including, thermal, hydroelectric, nuclear, renewable, etc. is approximately 91,000 megawatt-hours. Of this, 82 percent are accounted for by the country’s thermal power plants.
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