Mobarakeh Steel Company to Invest $500m in Iran’s Largest PV Station

EghtesadOnline: Energy efficiency and renewable energy policies can substantially reduce the demand for and supply of energy generated from fossil fuels namely natural gas, oil and coal-fired power plants.

News ID: ۷۵۲۲۰۸

28 January 2023

Energy efficiency and renewable energy policies can substantially reduce the demand for and supply of energy generated from fossil fuels namely natural gas, oil and coal-fired power plants.

Meysam Latifi, assistant to the Iranian president and head of the Organization for Public Administration and Employment Affairs, made the statement on Thursday to break ground on a major 600-megawatt photovoltaic (PV) power project in Kouhpayeh County in Isfahan Province, IRNA reported.

“Projected to cost $500 million, the project will be financed by Mobarakeh Steel Company, the largest steel company in Iran and the wider Middle East and North Africa region.”

Kouhpayeh PV power station will be the largest of its kind in Iran and is expected to be fully operational in three years, he noted.

According to the official, the first phase of the plan will add close to 100-MW to the national power grid by July.

“The solar farm will be built on a 1,200-hectare piece of land and is expected to help reduce natural gas consumption by about 350 million cubic meters per year.”