Athos Solar self-finances and completes another 17MW of solar parks in Iran

The solar power station near Ebrahimabad generates 8.5 MWp. Credit: Athos Solar

German firm Athos Solar has completed two more large-scale PV systems in Iran, each with 8.5MW capacity in the province of Hamadan.

The Baba Taher and Bo 'Ali Sina projects required investment equivalent to €15 million and they were financed with equity capital from Athos Solar. Both projects cover 10 hectares of land each.

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The company now operates five PV projects in Iran producing around 40MW, with the first three each producing 7-8MW, also in Hamadan.

“We are proud of the fact that we completed the two new power stations in minimum time without any problems,” said Christian Hamacher, Athos Solar’s country director for Iran. “We can now rely on a wealth of experience when it comes to processes and local conditions in Iran – which is especially beneficial for planning, logistics, and operations.”

The Greencells Group based in Saarbrücken, Germany, provided EPC services for both stations.

As Athos Solar explained to PV Tech last year – discussing Iran's first ever large-scale PV projects – the company still believes that financing construction projects in Iran with funds from international banks in the West is still not possible.

Hamacher added: “The anticipated return on investment for the first five solar parks is very good and helps counterbalance geopolitical and currency risks. Of course, we are hoping for stable framework conditions in the Middle East in order to plan and implement further projects.”

Iran's large-scale sector is gaining momentum with multiple projects in the 5-15MW range completed in recent months.

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