FDI-Funded Solar Farm being Built in Shiraz

Iran is to build a solar power plant near the southern city of Shiraz with its budget supplied by foreign direct investment (FDI).

Director General of economic and financial affairs of Fars Province Babak Daei has said the project is one of the 4 initiatives funded by foreign capital in the province.

He said a total of $24m has been earmarked for funding the project, he said addressing the province’s investment council on Sunday.

Daei said a Chinese financier has bankrolled $1.4m for a 250-kilowatt power plant and a French investor has financed €15m for investing a 15-kilowatt solar farm.

The official also said that another project has been implemented in the province with an investment of $4.6m but did not disclose any details about the initiative.

He further said investments have increased more than 5 times in the province from a year earlier.

For the time being, project valued over $278m are being carried out in the province in various sectors, he added.

(Source: Shana)

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