Norwegian Firm in Talks to Build Solar Power Plants in Iran

The CEO of Norway’s Scatec Solar said the company is in negotiations to build its first solar power plants in Iran.

“I wouldn’t like to say by when we (Tehran and Oslo) expect a signed deal but we are actively working on it,” Raymond Carlsen told Reuters on Friday.

He added that the initial project under discussion would cost $120 million per 100 MW installed or roughly $132 million.

Scatec Solar’s Chief Financial Officer Mikkel Toerud said Iranian and Norwegian authorities were trying to help the company secure financing for the project.

“They (Norway) will provide us with guarantees that will enable us to raise international and domestic financing,” Toerud said.

Oslo was also willing to help finance future projects in Iran, he added.

The firm, which builds and operates solar power plants worldwide, wants to generate 120 megawatts of power in Iran, rising to 500 MW later.

Iran’s installed solar energy capacity is currently 53 MW, according to Iranian energy ministry data, but 76 firms have signed deals to study building an extra 932 MW of capacity.

(Source: Tasnim, under Creative Commons licence)