The ground was broken for the construction operation of Iran Renewable Energies’ Photovoltaic Chain Township in the presence of CEO of Bank Melli Iran (BMI) Dr. Mohammad-Reza Farzin, Minister of Economic Affairs and Finance (MEAF) Seyyed Ehsan Khandouzi, Head of Iranian Parliament’s Economic Commission Mohammad-Reza Pour-Ebrahimi, Governor General of Kerman province Mohammad Mehdi Fadakar, Leader’s Representative and Friday prayers leader of Kerman Hojjatoleslam Hassan Alidadi.

Dr. Mohammad-Reza Farzin CEO of Bank Melli Iran was the first speaker in the inaugural ceremony of the construction operation of “Iran Renewable Energies’ Photovoltaic Chain Township” and emphasized the determination of Bank Melli Iran in supporting national projects as well as knowledge-based companies financially.

The ceremony also was attended by a number of members of the Board of Directors of Bank Melli Iran, senior managers of NOORAN Energy Economic Group and also provincial officials.

When the new administration of President Raeisi assumed office, “We promised to materialize objectives of the bank in banking system of the country optimally.”

“Our first commitment to the banking system of the country was to help spur activities of active economic enterprises in the country through the financial support of the bank but not to administer the economic enterprise. We made up our mind to delegate the administration of the economic enterprises of the country to the private sector.”

The issue of delegation of administrative activities of economic enterprises was seriously emphasized both by Leader of the Islamic Revolution and also president.”

He went on to say that Bank Melli Iran showed best performance in the field of supporting economic enterprises and active industrial and production units.

In this regard, Bank Melli Iran (BMI) detached its administrative activity in four industrial and production companies over the past year and also enlisted three companies at Tehran Stock Exchange (TSE), he said, adding that this trend still continues as one of the largest companies of Bank Melli Iran is enlisting at Tehran Stock Exchange (TSE).

As mentioned in above, Bank Melli Iran (BMI) has withdrawn from four companies and listed three companies on the Stock Exchange in the past year in 1400 (ended March 20, 2022), and this process is still continuing, as it is on the verge of handing over one of the largest companies of Bank Melli Iran in the Stock Market.

In addition to leaving the business activity, Bank Melli Iran did not forget the task of creating the company, he said, adding that in the current administration, the first major project that BMI undertook to finance it is “Shahid Soleimani” Refinery project, which requires nearly $12 billion investment, so that BMI undertook a large amount of financing this project.

Turning to South Pars Gas Field, CEO of BMI said that South Pars project needs $7 billion worth of investment which is financed by Bank Melli Iran and banking system of the country.

He went on to say that Bank Melli Iran has participated and financed in construction operation of Shahid Mahdavi Tank in the form of BOT (Build - Operate - Transfer) Scheme in a way that this project needs about $80 million worth of fund to be completed.

Dr. Farzin further stated that creating a photovoltaic town that can produce clean energy has been a dream in the country.

“When I was in charge of organizing subsidies, one of our main discussions was to get rid of reliance on fossil fuels. Since then, we have become one of the biggest consumers of fossil energy, which produces a lot of pollution and has imposed a lot of costs on the country,” he added.

Regarding the 6th Five-Year Socioeconomic and Cultural Development Plan, Dr. Farzin said that in formulation of 6th Development Plan, it has been envisioned that renewable energies must meet 5% share energy demand of the country but it is a matter of regret to say that the renewable energies meet only one percent which shows that objectives of this sector have not been materialized.

Considering that giant steps that some countries in the world have taken in the direction of clean energy production, Bank Melli Iran (BMI) should also increase the country's production speed in clean energy production and take big steps in its direction.

Hence, the renewable energy photovoltaic chain project has the capacity to become the axis of solar energy in the production of panels, power plants, and knowledge production, he emphasized.

“All the industries that were established for the first time in the country have trained a generation of experts who have developed the relevant industry in the country. In my opinion, this project can also assume this role in the country.”

This project was suitable from every aspect to be built in Kerman province and will certainly help development of the region.

Dr. Farzin added that production of solar cell is not easy to produce and it is a knowledge-based project, so this project was appropriate for Bank Melli Iran (BMI) to support it.

He also pointed to the features of this project and stated that Iran Renewable Energy Photovoltaic Chain Town" project started with 1160,000 billion rials worth of initial capital.

It should be considered that many big banks of the country do not have this amount of initial capital. In the next step, the capital of this project will increase to 25,000 billion rials, he continued.

Solar cell production is not easy to produce and it is a knowledge-based project, so this project was appropriate for Bank Melli Iran (BMI) to support it.

In the end, CEO of Bank Melli Iran emphasized that in this giant project, Bank Melli Iran (BMI) does not have the responsibility of managing the project and is only responsible for the creation of the company. I hope that the regional officials will continue to help this project with its many capacities to become operation on time.