Chinese firms to build solar panel plant, solar energy stations in Iran

Business Materials 18 December 2017 11:52 (UTC +04:00)

Baku, Azerbaijan, Dec. 18‎

By Fatih Karimov – Trend:‎

Iranian administration in recent months has signed several agreements with foreign companies for establishing solar panels’ manufacturing plants in Iran, in a bid to increase the share of home-made photovoltaic panels in its growing solar energy sector.

The measures are important, given the fact that the country plans to increase the share of renewable energy from power output from current level of ‎0.41 ‎percent (or 322 MW) to 10 percent by 2050.

In the most recent development, it is announced that Chinese investors will establish a production line in Iran’s north western Zanjan province for manufacturing photovoltaic cells.

The Chinese side will invest 1.2 billion rials (about $34,000) for establishing the industrial unit, Faramarz Nikseresht, a local official told IRNA Dec. 18, without unveiling the name of the Chinese company.

He further said that two Chinese companies also will build 20 MW and 500 MW solar power plants in the province jointly with cooperation of Iranian counterparts.

Over $550 million of investment will be made for construction of the power plants, Nikseresht, said.

Currently, seven industrial units producing solar panels are operating in Iran.

Earlier this month, 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.

Previously, IDRO and Znshine signed a MoU for investment in construction of production line for 200-megawatt solar panels.

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.