Austrian firm Benefit & Solar Co will invest USD 100 million (EUR 85m) to build four solar power plants in Iran with a combined capacity of 70 MW, the Islamic Republic News Agency (IRNA) said on Tuesday.
The Austrian company has signed an agreement with the Fars Province Investment Services Centre that envisages the construction of the solar facilities in Abadeh and Izad-Khast, in the southwestern Iranian province of Fars. The capacity will be split between two 25-MW and two 10-MW plants, said Babak Daee, director general of economic affairs and finance office of Fars Province, as quoted by the news agency.
Construction and grid-connection of the four photovoltaic (PV) parks is expected to take seven months.
This is one of the latest investments by foreign companies in the Iranian solar sector since the easing of international sanctions on the country in 2016. Also on Tuesday, Reuters reported that Norway-based solar installer Saga Energy (OTCMKTS:SAGA) has struck a EUR-2.5-billion (USD 2.9bn) deal to install 2 GW of solar power capacity in Iran.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.