Iran, with a population of over 80 million, has the fourth-largest oil reserves and the second-largest natural gas reserves in the world. But despite its rich hydrocarbon resources, the country is pursuing several projects to decrease its reliance on fossil fuels
Under several policies, the country has taken measures to increase power capacity via sources such as wind, solar, and geothermal throughout the past years. Wind and biomass energy projects -which are to produce 600 MW of electricity- and the construction of a 50 MW geothermal power plant in the northwest of the country are among these measures.
Investments in wind power and solar power in the following years
Traditionally, the on oil and gas rich country satisfies its energy thirst with fossil fuels and renewables – with the exception of hydropower – so far hardly played a role. But that is about to change. According to the state’s “Renewable Energy Organization of Iran” (SUNA), a total of 5 GW of wind and solar capacities as well as biomass and geothermal energy projects are planned by 2020, and further 2,5 GW will follow by 2030. The national energy agency Tavanir estimates that the country will be able to cover up to 10% of its energy needs through Renewables within the next five years.
Iran collaborates with Germany
According to different advisory centers, the Tehran government is mainly focusing their efforts on wind energy. A handful of wind parks have been realized so far. According to consultants (citing various meetings between German and Iranian economic delegations) Iran is counting on the technical support of Germany with the planned expansions in the area of wind energy. Moreover, Iran has immense potential in the field of solar power. With 300 sunny days per year and a radiation of 2,5 to 5,5 kilowatt hours per square meter, conditions are very promising.
The dissolution of the sanctions against Tehran has re-spurred economic relations between Germany and Iran. According to Roknoddin Javadi, head of the state Iranian oil and gas company and government member, Iran is expecting an annual order volume of up to ten billion dollars for German companies by 2018.
As of now, Iran has a lot of potential for both project developers and Investors in the renewable energy sector. Register now on E-nable+ to view renewable energy investment opportunities in Iran or present your project to potential investors.