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Asian companies ready to enter renewable energy sector of Iran

11 October 2018 [18:07] - TODAY.AZ

By  Trend

After withdrawal of large European companies working in alternative renewable energy sector from Iran, the Asian companies entered this sector, Moslem Mousavi, Head of Iran Renewable Energy Association said, IRIB news reported.

Mousavi noted that this year, small and medium-sized companies from such countries as South Korea, India, Pakistan, the United Arab Emirates, China and Turkey have entered Iranian market in order to make investments in alternative renewable energy sector.

Mousavi noted that the incomes of foreign investors in alternative renewable energy sector have decreased due to destabilization in foreign currency market.

"With increase of value of foreign currency, incomes of these companies decrease. The Ministry of Energy has put forward a proposal regarding this issue. To be more exact, it is proposed to permit the local and foreign private companies to export abroad the electricity produced by themselves," he explained.

“If the incomes of investors is calculated in foreign currency, this will be profitable, and the investors will be stimulated to make investments,” Mousavi said and added that this process, in turn, will give a boost to the renewable energy sector and export to other neighboring countries.

Mousavi went on to say that foreign investments have significantly decreased due to destabilization in the foreign currency market and sanctions imposed on Iran.

"The investors who came to Iran earlier, have left the country, and the companies which stayed in Iran, have encountered the mentioned problems. Such companies as Mapna and Taban engaged in production of equipment generating alternative renewable energy, also couldn’t import the needed equipment after destabilization in the foreign currency market. The destabilization at foreign currency market is one of the main problems for investors. They cannot transfer into foreign currency and to export from the country the value of the electricity produced at solar energy stations," Mousavi said.


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