Norway’s Saga in early stage deal to build 2GW of solar projects in Iran - Reports

Facebook
Twitter
LinkedIn
Reddit
Email
The plans for 2GW of PV capacity are still reliant on finalising guarantees from Iran’s capital Tehran in order to proceed. Flickr: Christiaan Triebert

Norwegian firm Saga Energy has signed a preliminary agreement with Iranian state-run firm Amin Energy Developers to build solar plants requiring investment of €2.5 billion investment (US$2.9 billion) in Iran, according to a Reuters report.

The plans for 2GW of PV capacity are still reliant on finalising guarantees from Iran’s capital Tehran in order to proceed.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Reuters reported that Saga plans to use banks, pension funds and Norwegian state export guarantees to fund its plans. Lithuania’s SoliTek will provide modules, with most of the remaining equipment including inverters coming from Taiwanese firm Delta Electronics.

A Saga Energy spokerperson suggested to Reuters that the firm also plans to manufacture modules in Iran in the future.

Since sanctions on Iran were lifted last year, there has been a flurry of PV investment announcements in the country. The latest was UK firm Quercus announcing plans to build a 600MW project. Iran also plans to build a 50MW solar power plant on its border with Armenia and saw the completion of its first ever large-scale projects.

Read Next

April 19, 2024
Khajeh Nasir Toosi University of Technology reserachers have developed ‘half-tandem’ solar cells with a power conversion efficiency of 27.63%.
August 1, 2019
Jordan's largest private-to-private project on track after cinching US$35m, Iran adds 16GWh plant to national grid, Enertis, IES and UNEF team up to train Tunisian engineers.
July 8, 2019
JinkoSolar Supplies 7.8MW for two PV plants in Hungary, 10MW solar farm connected in Afghanistan, Vietnamese firm completes 50MW project in Ninh Thuan, Photon Energy connects 2.1MW of projects in Hungary, First solar plant in Iran's Khorasan Razavi completed.
May 14, 2019
JAKS MoU to buy 49.5MW Vietnam solar project, ReneSola provides 5.4MW of mono PERC modules to Helexia in Belgium, SECI delays PV manufacturing-linked tender again, Renewables to help Iran water scarcity.
August 6, 2018
Construction has started on a 30MW solar project, while a 10MW project has also been completed in the Iranian province of Yazd.
April 19, 2018
EPM installs Colombia's 'first' floating PV project, Iran’s South Khorasan Province gets first 10MW solar project, Clenergy bags orders form Japan, Vietnam and Thailand.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany
Solar Media Events
March 18, 2025
Sydney, Australia