(MENAFN) A huge project consisting of an energy park in south Iran is being planned by a group of Indian, Iranian and South Korean companies, estimated at USD10 billion, it'll contain a 1,000 MW solar power generation units.
Iranian project owners have announced their willingness to undertake 30 percent of investment and the foreign side to provide the rest of the funds, extended by a meeting which joined the companies with authorities to shape their plans.
The mainstream development is part of Iran's bid to create power plants to generate 5,000 MW of renewable energy in the country which relies on fossil fuels for 85 percent of its electricity.
Moreover, Iran is the major producer of electricity in the Middle East, generating over 70,000 MW per hour, plus renewables currently account for less than 14 percent of the nation's energy mix.
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