Official: $1.5bn foreign investment in renewable energy power plant

IRNA – Head of Renewable Energy and Power Utility Organization (SATBA) Mohammad Sadeqzadeh said on Sunday that 1.5 billion dollars of foreign investment has become operational in renewable energies.

He added that an outlook of 4.1 billion dollars for foreign investment in renewable energies has been registered in Economic Ministry so far.

Sadeqzadeh told reporters at the 17th International Electricity Exhibition that in the sector of renewable energies, Iran is to use both domestic and foreign resources.

He said that now SATBA has signed contract for guaranteed purchase of electricity for 2100 megawatts by private sector, in which 700 megawatts is under construction.

In another part of his statement, Sadeqzadeh talked about generation of electricity from waste materials and expressed the hope that municipalities will remain committed to their obligations in this concern.

He added that currently five power plants are generating electricity by using wastes and their electricity is purchase by guarantee.

The 17th International Electricity Exhibition kicked off on Saturday November 4 for duration of 4 days and 458 domestic and 310 foreign companies from 30 different countries like Germany, China, Turkey, Italy, Spain, Finland, Poland, Britain, Sweden, United Arab Emirates and Russia attended the exhibition.