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Mobarakeh Steel Company To Finance Solar PV Plant In Iran With $500 Million

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rows of solar modules in photovoltaic power station
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Renewable energy policies and energy efficiency can significantly reduce the demand and supply of fossil fuels, such as oil, natural gas, and coal-fired power stations in Iran.

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Meysam Latifi, the assistant of the Iranian president and head of the Organization for Public Administration and Employment Affairs made the statement to officially break ground for a 600 MW photovoltaic power plant in Kouhpayeh County, Isfahan Province.

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Mobarakeh Steel Company will finance the project, which is estimated to cost $500 Million. It is the largest steel company in the region, as well as the Middle East and North Africa MENA.

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He noted that the Kouhpayeh PV Power Station will be one of the largest in Iran. It is expected to be operational within 3 years.

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Officials claim that the first phase will add nearly 100 MW to the nation’s power grid by July.

“The solar farm will take place on a 1,200-hectare parcel of land. It is expected that it will reduce natural gas consumption by approximately 350 million cubic meters annually.”

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