Iran plans to generate 5GW of renewable energy by 2015

Business Materials 13 September 2014 13:23 (UTC +04:00)

Baku, Azerbaijan, Sept.13

By Fatih Karimov - Trend:

Iran plans to generate 5 gigawatts (GW) of renewable energy by 2015.

Yousef Rashidi, an official at Iran's Department of Environment, said Iran should be able to generate 5 GW of renewable energy in 2015 according to the fifth five-year national development plan, Iran's IRNA news agency reported on September 13.

Currently, 300-350 megawatts of renewable energy is produced in the country, he added.

Energy Minister Hamid Chitchian said on June 13 that the Iranian Energy Ministry will offer facilities to people to generate renewable energy.

Gratuitous loans will be paid to applicants who want to install renewable energy generation systems in their homes.

The Ministry will buy each kilowatt hour of electricity from people at 4430 rials, he added.

USD official exchange rate in Iran is currently about 32,000 rials.

At present, each kilowatt hour of electricity is sold at 4940 rials to subscribers, he noted.

On Feb.26, Iran's Fars News Agency quoted Managing Director of Iran Power Generation, Transmission, and Distribution Management Company (TAVANIR) Homayoun Haeri as saying Iran will produce 500 MW of electricity from renewable energy sources in Iranian calendar year 1393 (March 2014-March 2015).