A contract worth almost $44m has been inked with Italian and Swiss investors for building Iran’s biggest solar power plant in North Khorasan province, reported Trade Arabia.

Managing Director of Energy Department of North Khorasan Province, Alireza Sabouri, said the construction process will officially begin around end of August.

He asserted that the first phase of the project, with a capacity of 30 MW, will be built in an area of 60 hectares to meet the energy demand of Jajarm alumina plant. Additionally, Iranian SHANA news agency reported that the Swiss party will finance establishment of up to 300 MW power plant in Shirvan, Esfarayen, Bojnourd, and Jajarm, according to Sabouri.

The Islamic Republic had earlier concluded a deal with the British Photovoltaic Association (BPVA) to construct a $1.7b solar plant with the capacity of 1,000MW.