Iran’s Sunir company and Spain’s company Bester signed a cooperation agreement on Monday, reported Press TV. For the first 18 months Bester will function as a consulting company and then an investor in joint renewable energy projects with Sunir.

Previously Iranian officials had outlined a comprehensive plan for the production of 5,000 megawatts (MW) of electricity using renewable energy sources by 2018. Spain is the fourth largest manufacturer of solar power systems in the world. This latest deal is meant to transfer the latest technologies to Iran.

In a related development Fars News Agency said that Iranian researchers from University of Kashan had found that Triphenyl phosphate electrolyte additives with commercial titanium dioxide nanoparticles both increase the efficiency of dye-sensitized solar cells as well as reducing costs.

Tertio butyl pyridine, the normal chemical used in the electrolyte solution, is both expensive and toxic, compared to Triphenyl phosphate.