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Officials with Italy's Finergy Company held talks with authorities at Iranian Ministry of Energy and the Renewable Energy Organization of Iran during a recent trip to Iran, Tasnim News Agency reported.

During the meeting, the Italian side expressed its readiness to invest in Iran's renewable energies sector.

It was agreed in the negotiations that Finergy will fund and construct three solar power plants with a total capacity of 10 MW in the cities of Kerman, Yazd and Shiraz.

Further talks are underway on Iran's use of Finergy's experience in the fields of biomass and plasma technology.

In December 2015, Germany signed an initial agreement with Iran to invest in the construction of four solar power plants in the southeastern province of Kerman.

Based on the initial agreement, a solar power plant will be set up in the city of Mahan in addition to two others in Rayen and another power plant in Yazdanabad District in Zarand County.

An Iranian deputy energy minister said at the time that a host of foreign firms are keen on investing in Iran's electricity and water industries, noting that regular meetings are underway to single out the best among them.

Iran has formulated plans to diversify electricity generation from the plants that use renewable energy sources, such as wind or solar power.

The country's electricity industry ranks 14th in the world and the first in the Middle East in terms of electricity generation by having an installed power generation capacity of 67,806 MW.

Solar photovoltaic generation, known as PV, contributes 96 to 98 percent less greenhouse gases than electricity generated from 100 percent coal, according to the Energy

Research Center of the Netherlands.

Source:Irandaily

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Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei said in addition to European firms, US companies await to invest in the sector, IRNA reported.

“Up to now, we’ve had very good negotiations with European companies… On top of attracting investment, our goal is the transfer of latest technologies” to Iran’s petrochemical production plants, said the NPC chief.

“In addition to the Europeans, reputable American companies are in line for participation in the industry,” the official news agency quoted Shah-Daei as saying without specifying the companies, Press TV reported.

The report said the official announcement was the first of its kind about US firms seeking involvement in the country’s petrochemical sector.

The Iranian petroleum minister said last month that the country’s petrochemicals exports have soared over the past years resting now at over 20 billion dollars.

Oilfield development 

Meanwhile, Mahmoud Mar'ashi, the project manager of South Azadegan at Iran's Petroleum Engineering and Development Company (PEDEC) told IRNA that major companies from France, Japan and Korea have held initial negotiations with Tehran over the country’s largest oilfield.

Mar'ashi, however, added the preliminary talks with France’s Vinci, Japan’s Marubeni and Korea’s Hyundai had not yet led to any contracts.

Iran has five joint fields with Iraq, which include North Azadegan, South Azadegan, North Yaran, South Yaran and Yadavaran; two of which, i.e. Azadegan and Yadavaran, reportedly hold the biggest reservoirs of Iranian oil.

South Azadegan is believed to hold 42 billion barrels of oil in place, 5.2 billion barrels of which are recoverable.

Iran discovered Azadegan oilfield in 1999 in what was described as its biggest oil find in decades. The country then teamed up with Japan’s Inpex to push the project toward development. However, the Japanese firm quit as a result of anti-Iran sanctions.

Source:Irandaily

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