{"id":399,"date":"2018-01-28T08:31:27","date_gmt":"2018-01-28T08:31:27","guid":{"rendered":"http:\/\/www.zigurat-energy.com\/ziguratnewen\/?p=399"},"modified":"2018-01-28T08:50:15","modified_gmt":"2018-01-28T08:50:15","slug":"european-firms-pour-money-iranian-renewable-energy-projects","status":"publish","type":"post","link":"https:\/\/www.zigurat-energy.com\/ziguratnewen\/european-firms-pour-money-iranian-renewable-energy-projects\/","title":{"rendered":"European Firms Pour Money Into Iranian Renewable Energy Projects"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-400\" src=\"http:\/\/www.zigurat-energy.com\/ziguratnewen\/wp-content\/uploads\/2018\/01\/wind-power.jpg\" alt=\"\" width=\"900\" height=\"500\" srcset=\"https:\/\/www.zigurat-energy.com\/ziguratnewen\/wp-content\/uploads\/2018\/01\/wind-power.jpg 900w, https:\/\/www.zigurat-energy.com\/ziguratnewen\/wp-content\/uploads\/2018\/01\/wind-power-300x167.jpg 300w, https:\/\/www.zigurat-energy.com\/ziguratnewen\/wp-content\/uploads\/2018\/01\/wind-power-768x427.jpg 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/p>\n<p class=\"speakable-paragraph\">When it comes to energy sources the Middle East may be synonymous with oil, but these days governments across the region are trying to develop other, greener sources of energy. That ought to have some environmental benefits for the countries concerned, but their main motivation is economic. Not only is the cost of providing subsidised oil and gas for rapidly growing populations becoming prohibitively expensive, governments also know that the less oil consumed at home the more they will be able to sell overseas at full price.<\/p>\n<p>Given its climate, the region has plenty of potential when it comes to renewable energy. Huge solar power plants are sprouting up in the desert, such as the Mohammed Bin Rashid Al-Maktoum Solar Park in Dubai which, once completed in 2030, will cover 214 square kilometres. The likes of Morocco and Egypt have also been exploring the potential for wind power.<\/p>\n<p>Iran is the most advanced in its development of renewable energy, mostly due to its past investments in hydropower schemes. Lately, however, it has been taking big strides in terms of wind and solar power, with a slew of new projects announced over the past few months.<\/p>\n<p>The largest to date was unveiled on October 17 when Norway\u2019s Saga Energy signed a \u20ac2.5bn ($2.9bn) deal with the state-owned Amin Energy Developers to build a solar power plant with generating capacity of up to\u00a02GW over the next five years.<\/p>\n<div id=\"article-0-inread\"><\/div>\n<div id=\"attachment_516699100\" class=\"wp-caption alignnone\">\n<div class=\"article-body-image\"><img decoding=\"async\" src=\"https:\/\/thumbor.forbes.com\/thumbor\/960x0\/smart\/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F516699100%2F960x0.jpg%3Ffit%3Dscale\" \/><\/div>\n<div>\n<div class=\"caption-container\">\n<p class=\"wp-caption-text\" aria-expanded=\"false\">Wind turbines in the foothills of the Alborz mountain range in northwestern Iran. (Photo: Shutterstock)<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>The deal is typical of many of the renewable energy deals in Iran in that it is a European company making the investment. Among other recent examples, Norway\u2019s Scatec Solar has said it is in talks to build a\u00a0110MW solar power plant, worth around $132m; it could expand it to 500MW at a later date. In addition, Hashem Oraee, president of the Iran Wind Energy Association (IRWEA), recently\u00a0told local media\u00a0that Danish companies are ready to invest as much as $1bn in renewable energy projects in Iran.<\/p>\n<div class=\"vestpocket\"><\/div>\n<p>It is not just Nordic countries which are getting involved. On September 20, the UK\u2019s Quercus said it planned to\u00a0deliver 600MW\u00a0of solar power in Iran at a total cost of some \u20ac500m. Local media have linked Germany\u2019s\u00a0Solarwatt\u00a0and Italy\u2019s\u00a0Finergy Company\u00a0to other schemes.\u00a0In June, a delegation of seven German renewable energy companies\u00a0toured\u00a0North Khorasan province to examine potential sites for solar and wind power projects.<\/p>\n<p>Some smaller projects are already at or near completion. In late July, work was completed on the 20MW\u00a0Mokran solar power plant\u00a0in Kerman province, backed by a joint venture of Germany\u2019s Adore and Switzerland\u2019s Durion. The companies are planning a 100MW solar plant for an adjoining site. In April, Iran\u2019s Ghadir Electricity and Energy Company and Greece\u2019s Metka announced they had completed a\u00a010MW plant close to Isfahan. In February another 14MW solar plant was unveiled in\u00a0Hamedan, in the west of the country.<\/p>\n<p>In total, these deals are adding up to many billions of dollars of investment into the Iranian economy.\u00a0In April, Iran\u2019s deputy economy minister Mohammad Khazaei said EU countries had\u00a0invested $3.6bn\u00a0in Iran\u2019s energy sector since January 2016, when the Joint Comprehensive Plan of Action (JCPOA) came into force \u2013 the deal which cut sanctions on Tehran in exchange for it cutting its nuclear activities. Khazaei told the 1st Iran-European Union Business Forum on Sustainable Energy in Tehran that the government had \u201cso far approved of 48 projects for electricity generation through renewable energies\u201d.<\/p>\n<p>There are a few reasons behind the rush of investment, including favourable investment terms on offer from the Iranian government.\u00a0The country\u2019s Energy Ministry typically signs deals guaranteeing to purchase the output of renewable energy plants for 20 years, via the Renewable Energy Organization of Iran (SUNA). The plants are also tax exempt for between five and 13 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to energy sources the Middle East may be synonymous with oil, but these days governments across the region are trying to develop other, greener sources of energy. That ought to have some environmental benefits for the countries &hellip; <a href=\"https:\/\/www.zigurat-energy.com\/ziguratnewen\/european-firms-pour-money-iranian-renewable-energy-projects\/\">Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[11,9,7,8,10],"class_list":["post-399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-european-investment","tag-iran","tag-renewable-energy","tag-solar-power","tag-wind-power"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>European Firms Pour Money Into Iranian Renewable Energy Projects - \u0632\u06cc\u06af\u0648\u0631\u0627\u062a \u0627\u0646\u0631\u0698\u06cc<\/title>\n<meta name=\"description\" content=\"When it comes to energy sources the Middle East may be synonymous with oil, but these days governments across the region are trying to develop other, greener sources of energy. 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