Construction Week Online: Germany�s Medio Energy Invest and Iran have signed a memorandum of understanding (MoU) worth approximately $104m for the construction of two power plants � wind and solar in the south of Iran.

Mahmoud Dashtbozorg, managing director of Khuzestan Regional Electricity Company, explained the details of the two agreements with Medio Energy saying: �The cooperation agreement with Medio Energy has been signed in line with development of renewable energy technologies as well as investment attraction,� Mehr News Agency reported.

He added: �The deal covers construction and implementation of a 20-megawwat solar power house in Shushtar through direct investment worth $25m (EUR24m) in addition to building and operation of a wind power plant in Bandar-e Mahshahr with a capacity of 50-megawatts and value of $83.6m (EUR80m).�

The official stressed that the German firm has agreed to provide technical knowledge, experience, a skilled workforce, capital, and technical and economic capabilities as well as necessary equipment for construction of the power plants.

Dashtbozorg stated that the Iranian side had spared no effort to provide grounds for attraction of domestic and foreign investors to electricity industry of the region with particular attention to the renewable energy sector.