BAKU, Azerbaijan, December 18. Iran is set to invest significant resources into the construction of renewable energy power plants with a total projected expenditure of $15 billion over the next three and a half years, chairman of Iran's Renewable Energy and Energy Efficiency Organization (SATBA), Mohsen Tarztaleb, told reporters, Trend reports.
Tarztaleb noted that this funding will be allocated at a rate of approximately $4.5 to $5 billion annually. The planned investment will enable the construction of renewable energy power plants with a total capacity of 30,000 megawatts.
Tazrteleb indicated that 30 percent of the funds will be provided by local investors, while the remaining 70 percent will be covered by government loans.
Of the total capacity, 25,000 megawatts will be generated by solar power plants, while the remaining 5,000 megawatts will come from other renewable energy sources.
Tazrteleb added that by the end of the current Iranian year (March 20, 2025), Iran expects to increase its renewable energy generation capacity to 1.8-1.9 gigawatts. Iran has already increased its renewable energy potential by 258 megawatt hours over the past 3-4 months.
Notably, according to Iran’s Renewable Energy and Energy Efficiency Organization, the country's renewable energy-based electricity plants currently have a production potential of 1,317 megawatts, with solar plants contributing 608 megawatts.
This figure accounts for 60 percent of the country's total renewable energy production capacity.