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Iran Plans First Tender to Draw $12 Billion Green Investment

  • To auction 1 gigawatt of wind and up to 3 gigawatts of solar
  • Ministry considers adding solar to energy swaps system

Iran is planning its first tender for utility-scale renewable-energy projects by year end as it begins a green power build out that could draw $12 billion of investment by the time it’s complete.

The nation wants to install 5 gigawatts of renewable energy in the next five years and an additional 2.5 gigawatts by 2030, Iran’s energy minister Hamid Chitchian said Thursday in an interview in London. The Persian Gulf nation, re-opened to investors following last year’s nuclear deal, has been courted by international green power investors at the same time it boosts oil production for export.