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SATBA And INIF Signs An Agreement For Renewable Energy Projects

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  • In October, SATBA signed an MoU with the National Development Fund (NDF) for renewable power plant
  • The deal aims to grow green electricity supply contracts, industrial self-supply power plants, and renewable power plants in industrial and specialised solar towns in five years.

Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA) and Iran National Innovation Fund (INIF) have recently signed a deal of $6 million for small scale’s renewable energy projects.

Addressing the signing ceremony, the SATBA head Mahmoud Kamani said, “This memorandum aims to grant facilities to small-scale projects in the field of renewable energy, including green electricity supply contracts, industrial self-supply power plants, and renewable power plants in industrial and specialized solar towns in five years.”

Kamani added that maximum use of the legal capacities and facilities available in Iran National Innovation Fund, including the credits of Article 16 of the Law on the Jump in the Knowledge-Based Production and the resources of the Energy Consumption Optimization Account through the fund, along with the introduction of companies active in the field of renewable energy and electricity efficiency to issue the guarantee are some of the purposes of this memorandum.

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This law indicates that industries using more than one megawatt have to supply the equivalent of one per cent of their annual electricity needs through the construction of renewable power plants. This activity aims to achieve five per cent within five years.

SATBA recently signed an MoU with the National Development Fund (NDF) for renewable power plant projects belonging to non-governmental public institutions. The worth of this deal was $5 billion.

Addressing the signing ceremony, Kamani referred to concerns about future electricity supply shortages and the effectiveness of such plans, and said: “Network capacity, electricity generation, and power plant fuel supplies are limited. Therefore, developing renewable power plants and promoting sustainable network development can help overcome challenges in fuel supply and fossil fuel production.”

He added that the main issue with the electricity network is financing. With the cooperation of the National Development Fund and foreign and domestic currency facilities, this problem can be solved.

An SATBA official stated in September that the growth of renewable energy projects in Iran has gained momentum since the new government assumed office in August 2021.

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Nitisha Dubey
Nitisha Dubey
Nitisha Dubey is a journalist at EFY. She focuses on startups and innovations with a deep interest in new technologies and business models.

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