Iran has started the construction of a 10-megawatt solar power plant on Qeshm Island, the first photovoltaic power station on the Persian Gulf island, a media report said on Saturday.
Hamidreza Momeni, Managing Director of Qeshm Free Trade Zone, said on the sidelines of the ceremony for the project that the plant will be built in an area of about 150,000 square metres in Tula industrial town on Qeshm Island, Xinhua news agency reported.
A domestic energy company will carry out the project in two phases, employing Italian and German technology, Momeni said.
The first phase of the project, which requires about $2.6 million in investment, is planned to go on stream in one year, he said.
Iran is a strong market for renewable power projects, former Energy Minister Hamid Chitchian said, adding that "Foreign investors have submitted investment proposals worth a total of $3.6 billion to develop renewable projects in Iran".
The Switzerland-based firm Durion Energy AG, in collaboration with Germany's Adore GmbH, has developed Iran's Mokran solar complex in the Sistan-Baluchestan Province.
According to Mahmoud Dashtbozorg, Managing Director of Khuzestan Regional Electricity Company, a German company will also invest $82 million to build a wind farm in Arvand Free Trade Zone with the help of its Iranian partner, Tose'eh Zist Arvand Investment Company.
--IANS
soni/bg
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
