The Iranian Energy Ministry announced, last week, a plan to add another 10GW of renewable energy capacity over the next four years as part of an overall strategy to deploy 30GW of power generation capacity.

On Sunday, the ministry and the Renewable Energy and Energy Efficiency Organization (SATBA) signed a memorandum of understanding with unspecified private investors to implement the plan and announced their intention to allocate around IRR30 trillion ($71.4 million) in the next budget law to move forward with the first projects.

According to SATBA, there are currently more than 80GW of renewable energy projects that have been submitted by private investors for review.

Iran has an installed renewable energy power generation capacity of around 900MW, of which about 414MW is represented by solar installations. According to the International Renewable Energy Agency, the country installed around 50MW of new PV power in 2020 and around 90MW in 2019.