Middle Eastern states are hiking their renewable energy plans as falling costs have rendered solar and wind power competitive with gas. Iran has long been the regional renewables leader thanks to its 12.5GW of hydropower plants. But these plants are struggling against repeated droughts whilst Iran is falling behind nearby states in the race for solar.
Iran has devised ambitious plans to add 14GW of primarily solar and wind capacity in a bid to turn its fortunes around, but as with all sectors of its economy, overcoming the impact of sanctions will pose a major challenge. The ministry of energy therefore appears to be targeting local industrial concerns and investors through incentives. (CONTINUED - 1065 WORDS)