Iran ‘Goes Green’ With UK-Backed €500 Solar Project

Iran ‘Goes Green’ With UK-Backed €500 Solar Project

The renewable energy investment company Quercus Investment Partners signed a deal worth more than £440 million ($594 million) to build and operate a 600 megawatt (MW) solar farm in Iran.

Under the terms of the agreement signed by Quercus and Iran’s Energy Ministry, the British company will be responsible for the construction, development and operation of the plant. Located in central Iran, it will be the sixth largest photovoltaic facility globally, behind projects of up to 1.5 gigawatts (GW) in China and India.

Construction will start in the first half of 2018 and the plant is expected to be completed by 2021. The work will be completed in stages, in a bid to reduce investor risk, with 100 MW sections coming online every six months. Read More…

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