German Co. Signs $108m MoU to Build Solar, Wind Plants
Germany’s Medio Energy signed a memorandum of understanding for the construction of a wind and a solar power plant in south Iran.
The agreement, which is worth $108 million (€104 million), was signed by Khuzestan Regional Electricity Company and Germany’s Medio Energy Invest GmbH & Co. KG, to build the solar and wind units in the cities of Shushtar and Bandar-e-Mahshahr in Khuzestan Province, Mehr News Agency reported on Saturday.
Mahmoud Dashtbozorg, managing director of Khuzestan Regional Electricity Company, expounded on details of the two agreements with the Germans.
“The cooperation agreement with Medio Energy was signed in line with the declared policy to promote renewable energy and attract foreign investment,” he said.
“The deal covers construction and implementation of a 20-megawwat solar power station in Shushtar through direct investment worth €24 million in addition to building a wind power plant in Bandar-e-Mahshahr with an output capacity of 50 MW and costing €80 million."
He added that the German investor has agreed to provide technical knowledge, workforce, capital, technical and economic capabilities as well as necessary equipment for the construction of the power plants.
Dashtbozorg asserted that the government has spared no effort to provide grounds for attracting domestic and foreign investments for the key electricity industry with special emphasis on renewables.
Andreas Langberg, an executive at Medio Energy, said on the sidelines of the signing ceremony, "In view of Iran’s inroads and potential in expanding its renewable sector, we are eager to begin our activities here immediately.”
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
