BAKU, Azerbaijan, October 28. The Central Bank has allocated $700 million for the construction of renewable energy power plants in Iran, the Deputy Chairman of Iran's Renewable Energy and Energy Efficiency Organization Alireza Parandeh Motlaq told local media, Trend reports.
According to him, the Central Bank of Iran has budgeted $200 million as a loan to investors willing to invest in the construction of renewable energy power plants from its foreign currency reserves. Moreover, $500 million has been allocated for the construction of renewable energy power plants out of priority projects.
Parandeh Motlaq noted that in addition, Iran's National Development Fund is ready to allocate funds worth $5 billion for projects related to the construction of renewable energy power plants.
"Iran's Renewable Energy and Energy Efficiency Organization has developed projects to build renewable energy power plants capable of producing 4,500 megawatt hours of electricity. These projects will be announced to investors next week,” he said.
To note, Iran's electricity production potential is 93,455 megawatts. The production potential of Iran's thermal power plants is 76,257 megawatts, the production potential of hydroelectric power plants - 12,144 megawatts, the production potential of retail power plants - 2,485 megawatts, the production potential of renewable power plants - 1,300 megawatts, the production potential of the Bushehr nuclear power plant - 1,020 megawatts, and the production potential of diesel units - 408 megawatts.
