Asian com­pa­nies ready to en­ter Iran’s re­new­able en­ergy sec­tor

Iran Daily - - Domestic Economy -

Af­ter the with­drawal of large Euro­pean com­pa­nies in­volved in al­ter­na­tive re­new­able en­ergy sec­tor from Iran, the Asian com­pa­nies en­tered this sec­tor, said the head of Iran Re­new­able En­ergy As­so­ci­a­tion.

Moslem Mousavi noted that this year, small- and medi­um­sized com­pa­nies from coun­tries such as South Korea, In­dia, Pak­istan, the United Arab Emi­rates, China and Turkey have en­tered Ira­nian mar­ket to in­vest in al­ter­na­tive re­new­able en­ergy sec­tor, IRIB re­ported.

He noted that rev­enues of for­eign in­vestors in al­ter­na­tive re­new­able en­ergy sec­tor have de­creased due to desta­bi­liza­tion in for­eign cur­rency mar­ket.

“With the in­crease in the value of for­eign cur­rency, in­comes of these com­pa­nies de­crease. The Min­istry of En­ergy has put for­ward a pro­posal to tackle the is­sue. To be more ex­act, it is pro­posed that per­mis­sion will be granted to lo­cal and for­eign pri­vate com­pa­nies to ex­port the elec­tric­ity they gen­er­ate,” he elab­o­rated.

“If the earn­ings of in­vestors are cal­cu­lated in for­eign cur­rency, it will be prof­itable, and the in­vestors will be stim­u­lated to in­vest,” Mousavi said. He added that this process, in turn, will give a boost to the re­new­able en­ergy sec­tor and ex­port to neigh­bor­ing coun­tries. Mousavi pointed out that for­eign in­vest­ments have sig­nif­i­cantly de­creased due to desta­bi­liza­tion in the for­eign cur­rency mar­ket and sanc­tions im­posed on Iran.

“In­vestors who came to Iran ear­lier, have left the coun­try, and the com­pa­nies which re­mained in Iran, have en­coun­tered the men­tioned prob­lems. Com­pa­nies such as MAPNA and Ta­ban which are in­volved in the pro­duc­tion of equip­ment gen­er­at­ing al­ter­na­tive re­new­able en­ergy, also couldn’t im­port their equip­ment fol­low­ing the desta­bi­liza­tion in the for­eign cur­rency mar­ket. The desta­bi­liza­tion of for­eign cur­rency mar­ket is one of the main prob­lems for in­vestors,” Mousavi said.

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