Iran to Launch $12bn Tender for Green Investment

The Iranian energy minister said the country plans to put out a major tender in a bid to draw $12 billion of investment in development of a series of utility-scale renewable-energy projects by year end.

The nation wants to install 5 gigawatts of renewable energy in the next five years and an additional 2.5 gigawatts by 2030 following the removal of anti-Tehran sanctions, Hamid Chitchian said recently in an interview in London, Bloomberg reported Friday.

“We’re not going to use the money from oil in that sector at all,” he said.

“All the investment will be done by the private sector, including local and foreign companies.”

Iran currently supplies 80 percent of its power from natural gas and wants to raise that figure to 90 percent by the end of next year.

(Source: Tasnim, under Creative Commons licence)

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