Iran reduces renewable energy price

Business Materials 5 September 2016 20:13 (UTC +04:00)

Baku, Azerbaijan, Sept. 5

By Khalid Kazimov – Trend:

Iran’s Energy Ministry has reduced price for purchasing electricity from the power plants that generate power from renewable energy sources.

Iranian Energy Minister Hamid Chitchian says his ministry has purchased per kilowatt hour of power generated from renewable sources at $0.021 (680 rials) over the current Iranian year (started March 20), Mehr news agency reported Sept. 5.

Last year, the price for purchasing per kilowatt hour of power from producers stood at $0.047 (1,500 rials).

According to the minister, the fall in the global prices was among the main reasons for reducing the power price in Iran.

Iran has increased its capacity for producing power from the renewable energy sources by 100 megawatts over the current year.

Iran has devised worth $30 billion plans for developing its power infrastructure in the following five years, which include building power plants, repairing and upgrading current ones, as well as developing and making the power grid smart.