India, South Korea plan $10 billion e-park in Iran

Tehran, Aug 31 (IANS) A consortium of Iranian, Indian and South Korean companies seeks to set up an energy park in Iran’s Khuzestan province in a project worth $10 billion, the media reported on Monday.

The project will generate 1,000 megawatts of solar power.

The Iranian project owners have announced readiness to undertake 30 percent of investment and want India and South Korea to provide the rest, the state-run TV Press TV reported.

Representatives of the consortium met provincial authorities on Sunday to outline their plans, the report said.

The project was part of Iran’s bid to establish 5,000 megawatts of renewable capacity in the country.

Renewables currently account for less than 14 percent of the country’s energy mix, which mainly come from hydro plants. But a lingering drought was reducing their production.

Iran is the biggest producer of electricity in the Middle East, generating over 70,000 megawatt-hours.

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