Tehran, Iran, Feb. 26
By Mehdi Sepahvand – Trend:
An Italian company has opened a credit line to support investment in water and electricity projects in Iran, Iran’s Minister of Energy Hamid Chitchian said, but did not mention the value of the LC.
Speaking in a joint conference with Italy’s Minister of Environment Gian Luca Galletti, Chitchian said an Italian company is going to build a geothermal power plant of 7,500 megawatts in Iran, Mehr news agency reported February 26.
Chitchian also said that another project is being carried out to maximize the steam power at Iran’s thermal power plants with a 7,000 megawatt improvement in power output.
Iran is a signatory of the Paris Agreement, an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) dealing with greenhouse gases emissions mitigation, adaptation and finance starting in the year 2020.
The agreement sets out a global action plan to put the world on track to avoid dangerous climate change by limiting global warming to well below 2°C by cutting back on the greenhouse gas emission. The agreement is due to enter into force in 2020.
Iran has pledged to reduce its emission by 12 percent.