Renewables booming in Iran

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The oil-producing country Iran has made agreements with 124 companies to install 2.38 GW in renewable capacity. The latest deal, USD 2.9 billion, was made on 17 October 2017 with Norway’s Saga Energy. Currently Iran has a renewable capacity of 340 MW, and the ambition is to install 5 GW of renewables by 2022.

The new capacity will include wind and solar farms, hydro dams, and biomass power stations. European export credit agencies, private equity, and Asian financial institutions have been used to fin...