Tehran, Iran, Oct.26
Trend:
Iran has entered the market of renewable energy, and gained the highest growth rate in the region, which is 70% growth rate over a one-year period between 2016 and 2017, Iran's deputy minister Sadegh Zadeh said, ILNA reported.
"We expect to a high growth rate in current financial year 2018-19," he said.
“Saudi Arabia has not had much development in renewable energy, and it seems that the impressive Saudi figures in renewable energy are bogus,” he noted.
“The UAE is looking for becoming the region`s leading hub for renewable energy, but Iran has taken the lead over the past three years,” he said.
As widely reported, the Kingdom of Saudi Arabia recently issued its Vision 2030 plan along with the supplementing National Transformation Program 2020. A significant target under Vision 2030 is the addition of 9.5 GW of new renewable energy capacity, including 3450 MW by 2020.
“The production of renewable electricity at a low cost and exports to neighboring countries are among Iran`s capacities regarding renewable energy. So far, there are three companies which have expressed their readiness to invest and export electricity in other countries, so the profit margin is very high for investors,” the deputy minister said.
The deputy minister of Energy also said that Iran is one of the most privileged countries in terms of access to power grids.
"Iran`s private sector is currently negotiating with other countries, including Iraq, Pakistan, Afghanistan and even the UAE, which own rich energy resources,” he said. “Iran's private sector is working with small and medium-sized countries and companies, that basically are not affected by US-led restrictions.”