Iran to inaugurate 500MW of renewable energy projects next year

Baku, Azerbaijan, Feb.26 By Fatih Karimov - Trend: Iran will produce 500 megawatts (MW) of electricity from renewable energy sources in the next Iranian calendar year, which starts on March 21, the Fars News Agency quoted Managing Director of Iran Power Generation, Transmission, and Distribution Management Company (TAVANIR) Homayoun Haeri as saying on Feb.26. The country has signed 100 trillion rials (about $4 billion) worth of projects with the private sector so far in the current year, he added. The head of Iran Electrical Industry Syndicate, Mohammad Parsa, said on Jan. 21 that Iran's private sector accounts for only 5 percent of the country's total electricity generation, the Iranian SHANA News Agency reported. Iranian Deputy Minister Houshang Falahatian had previously said that the private sector's share is around 40 per cent. Haeri said in November that Iran is now the world's 14th biggest owner of solar power plants. "The country's total potential for producing solar and wind energy is estimated to be around 40 million and 100,000 megawatt hours," he said. Iran is currently the biggest electricity producer in the Middle East. Iran's total electricity generation currently stands at 70,000 megawatt hours. Iran currently trades power with Turkey, Armenia,Turkmenistan, Azerbaijan, Pakistan, Afghanistan,Syria, and Iraq. Iran seeks to become a major regional exporter of electricity and has attracted more than $1.1 billion in investments for the construction of three new power plants. Edited by C.N. Follow us on Twitter @TRENDNewsAgency