TEHRAN - Iranian Energy Ministry has announced new regulations on guaranteed purchase of electricity from the country’s renewable power suppliers, IRIB reported on Sunday.

Based on the new regulations, the ministry has increased the price for the guaranteed purchase of electricity from renewable power plants in order to promote construction of such plants in the country and also to increase competitiveness among the companies active in the renewable electricity industry.

According to Iran’s Renewable Energy and Energy Efficiency Organization (known as SATBA), to address environmental problems in coastal provinces and metropolises, the base rate of guaranteed electricity purchases from biomass power plants will be doubled.

Also, the electricity purchase rate for wind farms in Sistan-Baluchestan province in southeastern Iran will increase by ten percent compared to the figures set out in their contracts.

Furthermore, renewable power plants which are built to export their generated electricity can, on request, sell their electricity to SATBA in accordance with Article 61 of the Consumer Pattern Amendment Act; which in that case they are required to cancel their export licenses.

Also for power plants that are not fully operational, the time for the price adjustment will be based from the date on which the plants start operating in full capacity.

EF/MA