TEHRAN – German company EAB NEW ENERGY GMBH will invest €350 million in a renewable energy park in Iran’s Arvand free zone in the Southwestern city of Abadan, IRNA reported on Thursday.

The project was inaugurated in the presence of Khuzestan’s governor, managing director of Khuzestan Regional Electricity Company and German company’s representatives.
According to Mahmoud Dashtbozorg, the managing director of Khuzestan Regional Electricity Company, based on the memorandum of understanding (MOU) signed with the German company, the participation will be in the form of foreign direct investment (FDI).
“With the estimated value of €80 million, the first phase of the project which is a 50-megawatt wind farm has been stared; this farm will be constructed based on the world’s latest technologies and German turbines will be used in it,” Dashtbozorg said.
The official noted that the German company will finish the project in several phases over a period of two years.
The park consists of various renewable energy sections including a 90MW wind farm, a 40 MW solar (photovoltaic) plant and a 20MW solar-thermal unit, he said, adding “A universal institution for renewable energy education will also be constructed in the region.” 

EF/MA