Iran signs deal for 30-MW solar project

Unnamed investors have agreed to pour a combined EUR 40 million (USD 43.9m) into a 30-MW photovoltaic (PV) project in Iran’s North Khorasan province, local media report.

The said investors come from Italy and Switzerland, Iran Daily reports.

The contract for the scheme was signed by Iran's Renewable Energy Organization, Managing Director of North Khorasan Electricity Distribution Co, Alireza Sabori, was quoted as saying. The facility will be built at the Jajarm alumina plant and will be the largest solar PV park in the province to date, according to the director.

Except for the inverters and panels, all equipment for the solar farm will be manufactured locally. Construction works at the site are due to kick off within the next three-four weeks. The output of the PV facility will be supplied to the cities of Garmeh and Jajarm in order for them to avoid future power deficits.

This joint venture (JV) investment is part of a series of moves the foreign companies are preparing for Iran. The Swiss sector investor is planning to support the phased deployment of up to 300 MW of PV capacity across the cities of Shirvan, Esfarayen, Boujnoord and Jajarm, by the Islamic Republic News Agency (IRNA).

(EUR 1.0 = USD 1.098)

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