TEHRAN – Iran has signed an agreement with private investors to develop solar power plants by the summer of 2025, aiming to address the country’s electricity supply imbalance.

Mohsen Tarztalab, Deputy Energy Minister and Head of the Renewable Energy and Energy Efficiency Organization (SATBA), stated during the signing ceremony that private sector involvement is a positive step and that all efforts must be directed toward resolving power shortages.

“Our priority is to entrust existing infrastructure to the private sector before the government intervenes,” Tarztalab said.

He added that Iran is pursuing special permits from the Supreme National Security Council to expedite private sector projects.

Addressing concerns about power distribution companies, Tarztalab assured that any arising issues would be promptly resolved.

He also noted that private firms generating export revenues would be eligible for foreign currency obligation waivers.

Last week, the head of Tehran Regional Electricity Company said that a three-megawatt solar power plant worth approximately 900 billion rials ($1.8 million) will be constructed in the Iranian capital.

Farhad Shabihi announced the launch of construction for 120 megawatts of renewable power plants, each with a capacity of three megawatts or less, in Tehran Province, IRIB reported.

“In conjunction with the 46th anniversary of the Islamic Revolution, construction of the three-megawatt solar power plant, valued at 900 billion rials, has begun in northern Tehran. Once operational, it will be connected to the national power grid,” he said.

EF/MA