Some €3B of foreign financing absorbed for Iran water, electricity projects - minister

Business Materials 19 June 2018 14:19 (UTC +04:00)

Tehran, Iran, June 19

By A. Shirazi - Trend:

Iranian Energy Minister Reza Ardakanian said the country has so far attracted 2.7 billion euros of foreign investment to develop its recycling water and electricity projects.

“We have also absorbed over €2.7 billion of foreign financing to recycle water and boost the efficiency of our power plants, and many other infrastructure projects,” Ardakanian said June 19, addressing an international energy conference in Tehran.

He added that international banks, including Islamic Development Bank, the ECO Trade and Development Bank (ETDB), and the Asian Infrastructure Investment Bank have financed projects in Iran worth €2 billion.

The amount is expected to rise to 4 billion euros in the near future by the banks for new water and electricity projects, Ardakanian said.

Elsewhere in his remarks, the minister said Iran has made great strides to reduce greenhouse gas emissions in recent years, saying the country has introduced voluntary programs for reduction of greenhouse gas emissions by 12 percent within the framework of the Kyoto Protocol and Paris Agreement.

Almost 62,000 MW, or 80 percent of 78,000-MW output, are generated from thermal plants that burn fossil fuels. In addition, 12,000 MW are derived from hydroelectric plants and 1,000 MW from the sole nuclear power plant in Bushehr.