$5 billion! Iran special funds to support 10GW of renewable energy
- The development of renewable energy power projects in Iran has been growing
- The government is focusing on attracting investment and adopting new strategies aimed at promoting the development of renewable energy and reducing reliance on traditional energy sources.
In October 2023, Iran's National Development Fund (NDF) and Iran's Renewable Energy Organization and Electricity Efficiency Organization (SATBA) signed a memorandum of understanding with a funding scale of US$5 billion to provide renewable energy power plant projects for non-governmental public institutions. Provide financing support. This move marks an important step for Iran in the field of renewable energy and is part of the Iranian government’s clean energy strategy.
Since the new government with Iranian President Seyed Ebrahim Raisi as its core came to power in August 2021, the development of renewable energy power projects in Iran has been in the process of growth. The government is focusing on attracting investment and adopting new strategies aimed at promoting the development of renewable energy, reducing reliance on traditional energy sources and achieving a clean, sustainable energy transition.
In order to achieve the goal of adding 10GW of renewable energy power installed capacity by August 2025, the Iranian government has formulated a comprehensive plan. The plan not only involves the construction of large-scale renewable energy power plants, but also focuses on the development of distributed photovoltaic power plants. Iran plans to build 110,000 distributed photovoltaic power stations for low-income groups, with a single power station capacity of 5KW. These distributed photovoltaic power stations will be distributed in residential areas, schools, hospitals and other buildings everywhere to provide reliable clean energy.
In addition, Iran will also hold a bidding activity for photovoltaic power stations with a capacity of 2.2GW to attract domestic and foreign investors to participate in the construction of renewable energy projects. This move will further promote the development of the renewable energy market and provide additional incentives to achieve the government's goals.
The Iranian government’s emphasis on and support for renewable energy demonstrates its commitment to the future energy transition. Through cooperation with the National Development Fund and renewable energy organizations, as well as formulating comprehensive plans and implementing the construction of distributed photovoltaic power stations, Iran's development prospects in the field of renewable energy are promising. However, to achieve these goals, many challenges still need to be overcome, including technical, financial, policy and other difficulties. But in any case, Iran is moving towards a clean and sustainable energy transition and contributing to the global development of renewable energy. Editor/Xu Shengpeng
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