As per the recent data release by the Energy Ministry of Iran, the country’s renewable energy capacity has touched 1,088.18 megawatts. Wind accounts for 364.89 MW while solar contributes 465.65 MW to this figure. Biomass and small hydroelectric power plants have contributed the remaining capacity.
Turbo expanders account for capacity of 9.6 MW, while branching makes up 136.07 MW of the country’s aggregate renewable capacity. The renewable sources account for close to 7% of Iran’s total energy generation. 90% share is claimed by natural gas.
In a recent news, National Development Fund (NDF) from Iran and the Renewable Energy and Energy Efficiency Organization (SATBA) entered into an agreement of $5 billion to finance renewable power plant projects that belong to non-governmental public institutions. The MoU will facilitate the National Development Fund to finance the establishment of renewable power plants, and can also cross $5 billion in the future.
Iran has set sights on achieving 10,000 MW renewable power capacity by August 2025. The country is looking to set up 110,000 solar power plants and has tenders for 2,200 MW of solar power plants in the works.