The Iranian government has been focused on expanding its renewable energy sector in recent years. Measures to boost renewable energy development include diversifying financing models for renewable projects, increasing the guaranteed electricity purchase ceiling, and enabling the buying and selling of renewable energy on the Iran Energy Exchange (IRENEX). These steps are aimed at facilitating further growth in the renewable energy sector and making the country’s energy system more sustainable.
A key goal of the Iranian Energy Ministry is to significantly increase the country’s renewable power capacity by the end of 2025. The ministry plans to add 10,000 MW to the renewable energy capacity during this period. To help achieve this ambitious target, the Energy Ministry has partnered with private contractors and signed memorandums of understanding (MOUs) in January 2022 to support the construction of new renewable power plants throughout the country.
The Iranian government’s commitment to renewable energy development is evident in the various initiatives and investments aimed at expanding the sector. As Iran continues to diversify its energy sources and improve the efficiency of renewable power production, the country is positioning itself to play a larger role in sustainable energy in the region.