Iranian expert: Long-term prospects needed for investments in alternative energy (Exclusive)
Baku, Azerbaijan, Dec. 14
By Elnur Baghishov - Trend:
A country that wants to raise local or international investments in energy sector should create a long-term prospect for investors, Peyman Molavi, an Iranian expert on investment, finance and economy, told Trend.
“There is an opportunity for investment in Iran, considering the volume of consumption in the energy sector of the country,” he said. “There is a great need for this sector both in Iran and in neighboring countries.”
“According to the existing potential, investments value in the energy sector should be several times higher,” he added. “But there are several obstacles for this. One of them is the application of sanctions at the international level. Foreign investors cannot actively participate in this field. As a result, domestic investors aren’t serious about the energy sector. If the government creates good conditions, local investors can show interest in this field.”
In accordance with international energy reports, Iran’s potential in renewable energy is very high, he said.
Many types of alternative energy can be used, including solar panels, because Iran has more than 270 sunny days, he noted. Wind energy and geothermal energy can also be used in several provinces of Iran, he said, adding that there are also prospects for using wave energy.