Iran beefs up renewable energy sector with $3bn investment

Iran plans to invest $3 billion (€2.8bn) on constructing renewable energy power plants, said Energy Minister Hamid Chitchian.

“Iran intends to launch a large-scale project to construct renewable energy power plants over the sixth Five-Year Development Plan to generate five thousand megawatt of energy in the country,” Chitchian said, as quoted in local news agency Irna.

He was speaking the sidelines of the ceremony marking the launch of three 7MW solar power plants in Hamedan.

Iran has voluntarily declared its serious participation in stepping up its share of renewables for producing electricity and it will set up renewable power plants with a capacity of 7,500MW by 2030, Chitchian said.