€39.47mn of foreign investments attracted to S. Khorasan energy projects

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Monday, June 15, 2020
4 foreign countries have invested to generate electricity from solar radiation.

An official from finance ministry department in South Khorasan province announced on Sunday that four foreign countries have invested €39.47 million in this province to generate electricity from solar radiation.

According to Mohammad Behrouzi, in the past three years, three solar power plants have been inaugurated in the eastern province of South Khorasan.

The projects have been run using  €25.21 million of investments funded by South Africa, Germany, and China, the official informed. 

As he added, a new investor from South Africa is to invest €14.25 million on a new 10-megawatt-solar project in the province.

Investors from Germany and Spain are also planning to make some similar investments in South Khorasan.

The data released by the Energy Ministry shows that Iran has produced over 4.4 billion kilowatt-hours of electricity from renewable sources since the bid to shift focus from fossil fuels to greener energies started in mid-2009.

This volume of clean energy was produced from July 2009 to late November 2019, which has cut the consumption of 1.25 billion cubic meters of fossil fuels. It has also saved 969 million liters of water.

Moreover, harnessing clean energy in recent years has helped the country curb the emission of about 3 million tons of greenhouse gases.

Renewable ventures are gaining popularity in Iran; with more than 300 sunny days throughout the year, Iran has huge potential to expand solar energy infrastructure and attract foreign investments.

The country meets more than 80% of its electricity demand from thermal power plants that run on fossil fuels. Of the total 82,000 MW production capacity, only a meager amount of 680 MW goes to renewables.

Figures on Iran's power sector show that 42% of the country's renewable energies come from solar power, 41% from wind farms, 13% small from hydroelectric plants, 2% from heat recovery, and 2% are constituted by biomass.

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