MNA – Deputy Economy Minister Khazaei said an aggregate total of 3.6 billion dollars of foreign investment have been attracted to Iran’s energy sector by the EU following the Joint Comprehensive Plan of Action (JCPOA).


Speaking at the 1st Iran-European Union Business Forum on Sustainable Energy in Tehran, Mohammad Khazaei, President of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), emphasized the Iran sought to reduce its reliance on oil revenues adding “in the era emerged after the nuclear deal with six world powers, the European Union has made 3.6 billion dollars of investment in the country’s energy industry.

“The incumbent government has so far approved of 48 projects for electricity generation through renewable energies for which necessary permits have been issued” he continued.

Khazaei went on to state that Energy Ministry has guaranteed to purchase renewable energies for 20 years. Additionally, power plants producing electricity through renewable energy enjoy tax exemption for five to thirteen years as an incentive for investors.

“As a result of Iran’s peaceful nuclear agreement, investments can be made in areas of clean energy supply and the country is now capable of exploiting benefits of nuclear energy,” he underscored.