Iran proposes German companies to invest in clean energy projects

Business Materials 21 July 2015 17:34 (UTC +04:00)

Baku, Azerbaijan, July 21

By Fatih Karimov - Trend: Iran has proposed German companies to invest in its clean energy projects, said Houshang Falahatian, the Iranian deputy energy minister.

After signing the nuclear deal between Iran and world powers on Iran's nuclear program, many European companies have announced readiness to invest in Iran's water and electricity projects, Iran's Fars news agency quoted Falahatian as saying July 21.

Iran has called Germany to participate in projects for generating 5,000 megawatts of clean energy in Iran, Falahatian said.

Iran plans to establish new power plants over the next five years with a total output of 37,000 megawatts, he noted.

"Germany is a leading country in the field of renewable, wind and solar energies. So, it can help Iran advance clean energy production technology."

Germany's Minister for Economic Affairs and Energy Sigmar Gabriel, heading a delegation, arrived in Iran on July 19.

He said German companies will embark on boosting bilateral industrial ties and modernizing Iranian industries after sanctions are lifted against Iran.

German industrial giants along with tens of smaller companies, headed by the German minister, discussed economic cooperation following conclusion of Iran's nuclear talks with the P5+1 group.

Gabriel said Germany places the top priority on automotive, renewable energy, petrochemical, and environment protection projects, and is ready to improve cooperation with Iran in these areas.

Based on statistics of the Renewable Energy Organization of Iran, there is a potential for generating 30,000 megawatts of wind power and 10,000 megawatts of solar power in the country.

Edited by CN