TEHRAN - The Deputy Minister of Energy and Head of the Renewable Energy and Energy Efficiency Organization (SATBA) has announced that 1,700 megawatts (MW) of solar power capacity has been brought online, with plans to reach 7,000 MW by next year.
Speaking on Thursday at the inauguration ceremony of the country’s industrial solar inverter plant, Mohsen Tarztalab stated that under the established plan to generate 7,000 MW of solar power, 1,700 MW has already been connected to the grid.
He added that orders have been placed for battery energy storage systems to support 500 MW of capacity. Furthermore, authorized by the Economic Council, approximately $2.3 billion has been allocated for renewable energy development projects; of this amount, $1.84 billion is to be sourced from the foreign currency reserves of the National Development Fund.
He noted that financial commitments totaling around $1.5 billion have been issued so far, with nearly $1 billion already definitively received from the Central Bank. These funds are designated for the renewable power plant development program, which targets a total of 7,000 MW of solar capacity.
Tarztalab also mentioned that, alongside solar projects, the development of wind power plants is on the agenda, with permits already secured for the construction of 100 MW of wind power capacity.