Iran to increase capacity of renewable power plants by 3,500 MW by 2026
(MENAFN) The Deputy energy Minister announced that the Ministry of Energy plans to increase the capacity of renewable power plants by 3,500 MW by next year's peak energy period. He emphasized that the financial resources required for this ambitious expansion have been secured thanks to the efforts of the Minister of Energy. This development comes as part of a broader strategy to boost the country's renewable energy infrastructure.
Mohsen Tarztalab highlighted that the financial backing for this project was made possible through the President's directive and the ongoing support and follow-up from the Minister of Energy. These efforts reflect the government’s commitment to accelerating the growth of renewable energy in Iran, an initiative that has gained significant momentum in recent years.
The Iranian government has implemented several key measures to foster the development of renewable energy in the country. These include diversifying financing models for renewable projects, increasing the guaranteed electricity purchase ceiling, and facilitating the buying and selling of renewable energy on the Iran Energy Exchange (IRENEX). Additionally, the possibility of exporting renewable electricity has been introduced as part of the government’s efforts to boost the sector's growth.
Looking ahead, the Iranian Energy Ministry has set an ambitious goal of adding 10,000 MW to the renewable power plants' capacity by the end of 2025. This follows a memorandum of understanding signed in January 2022 with private contractors to construct new renewable power plants. Notably, Iranian renewable power plants generated 264 million kilowatt-hours (KWh) of electricity in the fifth month of the Iranian calendar, marking a 23-percent increase in generation compared to the previous year.
MENAFN02022025000045015839ID1109157798
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.