Mohammad Sadeqzadeh, head of the Renewable Energy Organization of Iran (Satba), made the statement on the sidelines of the inauguration of 11th International Renewable Energy, Lighting & Energy Saving Exhibition, in Tehran on Thursday.
"All equipment used in renewable power plants is manufactured domestically. Nonetheless, power plant owners can choose between Iranian and foreign-made parts," he said, noting that the policy should encourage domestic factories operate in a competitive environment and keep pace with international standards.
The new US sanctions cannot stop expansion of solar and wind power plants because parts required for setting up such units are designed and manufactured by companies in Mashhad, Tehran and Shiraz, according to Financial Tribune.
As representatives of Satba, power distribution companies guarantee the purchase of renewable electricity, which is a major incentive to boost investments in renewables, he said.
Iran Power Generation, Distribution and Transmission Company (Tavanir) recently issued a directive based on which domestic electricity companies will assume the responsibility of buying renewable power output for 20 years.
Sadeqzadeh said Satba has settled part of its overdue debts to the private sector and unpaid debts will be cleared by March.
"Electricity consumers have been levied $120 million since March through their bill to expand renewables, of which $30 million was given to Satba by the Management and Planning Organization."
As per the budget bill of the coming fiscal March 2019-20), the government is expected to allocate $180 million to develop green energy, he said without providing any details.
According to the Energy Ministry news portal, Paven, 57 domestic and foreign companies from Turkey, Australia, China, Germany, Austria and the Netherlands are attending the 3-day event that displays innovative products and technologies related to green energy.