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India, Korea plan $10 billion energy park in Iran
Iran plans to establish 5,000 megawatts of renewable capacity.
Presstv.com
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A consortium of Iranian, Indian and South Korean companies seeks to set up an energy park in Iran’s Khuzestan province in a project worth $10 billion, including generation of 1,000 megawatts of solar power, the IRNA news agency says.
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Enterprise Company has also proposed to build gas-powered and combined cycle plants to produce 600 megawatts of electricity, Suresh Sharma, coordinator and head of GTPP Oil and Gas, said.
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Iranian project owners have announced readiness to undertake 30% of investment and the foreign side to provide the rest of the funds, an IRNA reporter told Press TV.
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Representatives of the consortium visited provincial authorities on Sunday to outline their plans, the news agency said.
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The project is part of Iran’s bid to establish 5,000 megawatts of renewable capacity in the country which relies on fossil fuels for 85% of its electricity.
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Renewables currently account for less than 14% of the country’s energy mix which mainly come from hydro plants but a lingering drought is reducing their production.
