Financial Tribune - The guaranteed purchase price paid by the government for renewable power generated by private companies has, on average, increased by 65%.

A new directive to raise tariffs (for the private sector producers) was announced by Energy Minister Reza Ardakanian the minister on October 13 to encourage investment, the Renewable Energy and Energy Efficiency Organization (Satba) reported.

The minister said at the weekend that the new prices for generating electricity from biomass have risen by 50% per kilowatt, reaching 3.6 cents/kilowatt hour.