Baku, Azerbaijan, Dec. 4
By Fatih Karimov – Trend:
Iran plans to increase the share of renewable energy in the country’s power output from current level of below 1 to 10 percent by 2050.
While the country has a huge potential in renewable energy (including geothermal, solar, wind, thermal plants) that burn fossil fuels make up more than 80 percent of Iran’s installed power generation capacity (77,987 MW).
The share of renewables stands at only 0.41 percent or 322 MW.
The Iranian administration has intensified measures to materialize the country’s renewable energy capacity in two recent years, following the removal of international sanctions.
Various studies have been carried out for establishing plants inside the country, to manufacture equipment for renewable power plants.
Industrial Development & Renovation Organization of Iran (IDRO), a major government-owned conglomerate, signed a memorandum of understating (MoU) with China’s Znshine and another energy company from Hong Kong, to form a joint company for manufacturing solar panels.
According to IDRO, registering the company will begin in a month. The Iranian group will own 30 percent of shares in the company.
Currently, seven industrial units producing solar panels are operating in Iran.
Earlier, IDRO Znshine signed a MoU for investment in construction of production line for 200-megawatt solar panels.
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.