Italian conglomerate Carlo Maresca SpA has become one of the first international investors to sign a solar offtake agreement with Iranian authorities. Stefano Falconio, head of foreign development, shares key lessons the group has acquired in this market.
A high-risk market that could deliver exceptional returns, Iran continues to draw renewable energy developers and export credit agencies despite the lack of involvement of international financial institutions and commercial banks.
One of Italy’s top integrated PV companies is looking to expand into new markets after getting €1.9 million from the Italian DFI.
With vast tracts of land, high irradiation levels and a sizable grid capacity, Iran is one of the most promising destinations for renewable energy development. But are the current incentives and potentially high returns worth venturing into this nascent market?
BPVA - An eye-catching agreement was signed by the British Photovoltaic Association (BVPA) and The Renewable Energy Organisation of Iran (SUNA) last week, for the two to work together over the development of up to 1 GW of solar PV in Iran as well as a module manufacturing facility in the country.
BLOOMBERG - Iran is planning its first tender for utility-scale renewable-energy projects by year end as it begins a green power build out that could draw $12 billion of investment by the time it’s complete.
REUTERS - While Iran faces an increasing energy demand, Tehran is after increasing its capacity for generating electricity from solar energy as the Islamic Republic has a high solar power potential among renewable energy sources.
GTM - Lots of MOUs are getting signed. Will the projects materialize?
In these last months, there have been loads of talks on the growing potential of doing business in Iran. Different national delegations visited the country trying to quickly reconnect old ties or establish new business relations, after international sanctions were finally lifted. The potential for Iran to be a strong trade partner is now acknowledged worldwide.
Little-known Italian firms have stolen a lead on other PV developers in breaking into the Middle East’s newest solar market, Iran.
Despite a flurry of announcements it is still unclear which developers have been awarded projects under Iran’s newly launched FiT scheme.