Iran Seeks Investment In Renewable Energy Sector

New Delhi, Oct 10, IRNA – Iran Tuesday sought foreign investment in renewable energy sector. Addressing an international seminar on Energy Access in New Delhi, Iran's Energy Minister Majid Namjoo said: "We welcome national and foreign investments and contributions in the field of renewable energy." An enabling legal and financial environment has been created in Iran to encourage application of renewable energies, he said. The Minister also emphasized the need for greater cooperation between developed and developing nations in the sector. "I take the opportunity to emphasize the need for international cooperation particularly between the developed and developing countries in order to increase considerably the share of renewable in energy basket," Namjoo said. "We will fully support the activities of the International Renewable Energy Agency (IRENA), which can play a major role to that end," he told the seminar inaugurated by New and Renewable Energy Minister Farooq Abdullah. "Within that framework, provision of adequate and predictable financial resources, including thorough investment, capacity building and training are necessary," he said at the seminar also attended by Energy Ministers and diplomats from several nations. The seminar was organized by the Ministry of New and Renewable Energy and the Confederation of Indian Industry (CII). The United Nations General Assembly has designated 2012 as the “International Year of Sustainable Energy for All” and the 2-day seminar is organized in recognition of the importance of energy access for sustainable economic development and supporting achievement of the Millennium Development Goals. The Government of India, Ministry of New and Renewable Energy along with other stakeholders – NGOs, civil society organizations and state governments is promoting energy access for sustainable economic development./end