Trade Arabia reported that a group of Iranian, Indian and South Korean companies plan to establish an energy park in Iran’s Khuzestan province.
Investments for the project total in at $10b and will generate 1,000 megawatts of solar power alone.
According to Press TV the Iranian project owners are ready to undertake 30% of these investments, leaving the remainder to the foreign partners.
The Enterprise Company has also proposed to build gas-powered and combined cycle plants at the park, generating an additional 600 megawatts.
Consortium representatives even visited provincial authorities to outline their plans.
As it currently stands, 85% of Iran’s electricity generation is powered by fossil fuels.