Internal Economy News
Publication Date : Sunday 11 March 2012 21:13
Iran-India announce preparedness to invest in new energies
Iran-India announce preparedness to invest in new energies

The Islamic Republic of Iran and India have announced preparedness to cooperate on boosting electricity production through renewable energies.
According to Iran ’s Energy Ministry, Energy Minister, Majid Namjou held talks with India ’s New and Renewable Energies Minister, Abdollah Farouq, where the two officials emphasized on the necessity of development on electricity production, as well as renewable energies.
During the meeting, Minister Namjou underlined that his ministry enjoys a $۱۰ billion annual turnover, inviting Indian private investors to participate in producing electricity through renewable energies.
Underscoring that Indian investment in renewable energies could be in BOO and BOT formats, Majid Namjoo stressed that Indian private sectors are welcome to commence their activities in the field of new energies by establishing new energies pilot projects.
“All of Iran’s neighboring states demand Iran’s electricity” Namjoo said, adding that “Iran has connecting power grids with all its neighbors and could also export electricity to India.”
Namjoo also announced that as the first step to initiate cooperation with India , Iran ’s Energy Ministry has invested over ۱۰۰۰ MW for electricity production through renewable energies.
“Iran enjoys the potential of over ۳۰۰ sunny days to set up ۶۰۰۰۰ MW solar power plants, as well as the potential to establish ۴۰۰۰۰ MW wind powered plants” the minister said.

Story Code: 72552