Monday, July 07, 2014

US company signs billion-dollar energy deal with Iran

US company World Eco Energy has signed a preliminary agreement to invest $1.175 billion to generate electricity in Iran. The plan is to turn solid waste into power.
Representatives from the American company and the Chaharmahal-Bakhtiari Province Governor General, Malek-Mohammad Qorbanpour, signed the deal, the Tehran Times reported.
It is expected the project will create 650 immediate jobs, with another 2,000 emerging over the next two to three years, Oorbanpour told the IRNA news agency. Local companies will also be investing the same amount of money into the project.
The Governor General went on to add that 80 percent of the workforce will be employed locally, whileWorld Eco Energy will provide machinery, equipment and technical expertise.
The project aims to create around 250 megawatts per day, which will be generated by burning 1,500 tons of solid waste. Despite being rich in oil and gas, Iran is looking to diversify its energy sector by developing renewable energy. Last year, the country announced plans to construct three new wind farms, each with a power capacity of 350 megawatts.

Full Story at

No comments:

Blog Archive