Iran invites investors to build renewable energy plants amid electricity shortages
Date
12/15/2024 8:27:30 AM
(MENAFN) Iran's renewable energy and Energy Efficiency Organization (SATBA) invites investors to take part in building renewable energy power plants as part of short- and medium-term plans to address the country’s electricity shortage.
To encourage investment and overcome challenges faced by renewable energy developers, SATBA has introduced measures under the revised Regulations to Remove Barriers to Renewable Energy Production, approved in December 2024.
According to SATBA's initial public notice, financing for renewable projects can be obtained through existing credit lines or loans backed by the National Development Fund, which is fully committed to supporting financial backing for renewable energy power plants.
SATBA has asked interested investors to submit necessary documentation for evaluation and qualification. The organization stated it will fast-track reviews and contract negotiations. If required, SATBA will issue preliminary approvals or referral letters to qualified applicants to access financing from banks.
Iran faces ongoing electricity shortages, worsened by higher consumption in the winter months, primarily driven by increased natural gas demand for heating. This creates fuel supply constraints for power plants, which depend on gas for electricity generation. As a result, plants are sometimes forced to use alternative fuels such as diesel, complicating supply logistics and raising environmental concerns.
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