Iranian, Spanish companies sign pact for renewable energy development


Iran’s state-run company SUNIR (Iran Power & Water Equipment and Services Export Company) and Spanish company Bester have signed an agreement for technical cooperation to develop solar power systems and renewable energy.

The agreement covers the launch of regional and international renewable energy projects, Islamic Republic News Agency (IRNA) reported.

Under the deal which has a tenure of 18 months the companies will cooperate on design and production of equipment for solar and renewable energy.

Initially, Bester will provide consultancy services to Sunir. Subsequently, the company will operate as an investor in renewable energy projects.

Both Spain and Iran have been working toward renewable energy development in their respective countries.

While Spain aims to produce 10 gigawatts of electricity from solar power projects by 2020, Iran has plans to generate 5 gigawatts of electricity from renewable energy sources by 2018.

And Power Generation and Transmission Company of Iran unveiled plans earlier this year to double the renewable energy capacity of the country by boosting wind and solar power generation.

Ajith Kumar S