Iran aims to leverage Chinese expertise to advance renewable energy sector
Date
10/27/2024 5:26:17 AM
(MENAFN) Iran’s Deputy energy Minister, Homayoun Haeri, announced that the Islamic Republic is aiming to leverage Chinese expertise and technology to advance its renewable energy sector, as reported by IRNA. Haeri made this statement during the opening of the 24th Iran International Electricity Exhibition (IEE 2024) on Thursday, noting that plans to collaborate with China have progressed significantly following the recent visit of Iran's Minister of Energy to the country.
He explained that efforts are underway to foster joint investments with China in the renewable energy sector, with the Energy Minister engaging in discussions with Chinese energy officials during his visit. In September, Farajollah Memamri, head of the Iran Chamber of Commerce's Economy Committee, also encouraged Chinese investors to contribute to the establishment of advanced solar power plants in Iran, extending invitations for collaboration in areas such as the construction of both large and small-scale solar facilities, solar panel supply, and technical expertise for solar energy projects.
China, meanwhile, is making strides in its energy transition, enhancing its renewable energy capacities while still relying on liquefied natural gas to meet its growing electricity demands. According to Yaoyu Zhang, deputy director at PetroChina, China’s shift toward renewables, particularly in wind and solar energy, has significantly reduced its reliance on coal for electricity generation, achieving a 10 to 13 percent decrease in coal usage.
Zhang highlighted that the costs associated with producing solar and wind energy have become increasingly competitive compared to natural gas, forecasting that China will exceed its target of 1,200 gigawatts (GW) of combined wind and solar capacity by reaching 1,300 GW by the end of 2024. This progress is aligned with China’s broader strategy to diminish coal's role in its energy mix and support its commitment to carbon neutrality by 2060, with projections indicating that renewable sources could account for about 50 percent of China’s electricity generation by 2028.
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