Report: China to supply 7 GW of solar panels to Iran

China will supply a large consignment of solar panels to Iran as part of a major economic contract signed between the two countries.

News ID: 2001919

According to a Sunday report, Iran’s sovereign wealth fund (NDFI) had committed to payments to China for the supply of 7 gigawatts (GW) of solar panels to the country.Without elaborating on more details, the report said that the commitment was part of a major economic contract signed between Iran and China earlier this year.

It cited figures and reports from Iran’s finance ministry showing that the contract was the largest of its kind in Iran’s history.

The report said that the supply of solar panels would be a major boost to Iran’s efforts to reduce its electricity shortages until the end of the calendar year to late March 2026.

According to other report, the NDFI had been allowed to invest nearly $4 billion in renewable electricity projects.

It said that Iran’s High Council of Economic Coordination had issued an authorization for the NDFI to invest $3.95 billion for the construction of 8 GW of renewable power plants.

Iran has introduced plans for a major expansion in its renewable electricity sector as it faces a rising demand for power in households and industries.

The country has also earmarked $1.5 billion worth of foreign currency loans to help expand solar power deployment in the country.

Iranian Energy Ministry forecasts show that the country’s renewables capacity would increase by 25 times in the next three years to reach nearly 30 GW./isna