Baku, Azerbaijan, Oct. 24
By Fatih Karimov– Trend:
Iran's Industrial Development and Renovation Organization (IDRO) and China’s Znshine signed a memorandum of understanding (MoU) for production of solar panels in Iran.
The MoU provides for investment in construction of production line for 200-megawatt solar panels, IDRO announced.
The project is estimated to take an investment of 20 million euros.
Last year, IDRO signed a similar deal with Germany's Schmid Group, worth 300 million euros based on which, a chain of industrial facilities from silica mining to solar cell production will be built in Iran.
Iran's current power production stands at 77,000 megawatts. The country plans to increase the number to 100,000 megawatts by 2025, 1,000 of which should be produced from solar energy.
Renewable energy sources make up less than 1 percent of Iran's power output. By 2050, Iran plans to be making 10 percent of its consumed power from renewable sources.