November 16 (Renewables Now) - Germany-based renewable energy firm ABO Wind AG is constructing a 1.3-MWp solar power plant in Iran, its first in the country.
The company is building the facility in Saidabad, Semnan province, and expects to commission it in late November, it said on Thursday. The park will consist of over 4,100 photovoltaic (PV) modules and 18 inverters.
ABO Wind noted that this project was initially funded by equity capital because obtaining finance continues to be difficult in the long-isolated country. It opened an office in Tehran early last year. "We are now well equipped for implementing larger wind and solar projects in the near future,” said Florian Lueders, ABO Wind’s head of project development in new markets.
The company is currently working on several schemes in Iran. It has established a new company, ABO Pionier AG, to operate renewable energy plants in new markets, where the sector is not established yet, or in countries with higher political risks.