The National Development Fund of Iran (NDF) is ready to allocate $5 billion for construction of renewable power plants, said a member of the board of directors of NDF on Monday.
Speaking on the sidelines of a ceremony to sign a memorandum of understanding between his organization and the Renewable Energy and Energy Efficiency Organization (SATBA), Alireza Mirmohammad-Sadeqi said a total of $2 billion will be given for building renewable power stations to produce 4.5 gigawatts of electricity, IRNA reported.
He announced the support of the NDF in the past for the construction of 46 power plant projects, the capacity of which was 7.2 gigawatts.
Some of the power plants have been put into operation, and some others are under construction, which are expected to join the national grid for the peak of summer next year, the official added.
For the construction of the power plant by the industry sector of Iran, considering the necessary arrangements for the repayment of the facilities, a tripartite MoU will be signed with the Ministry of Energy and SATBA.