TEHRAN – The U.S. company World Eco Energy plans to invest $1.175 billion in a project in Iran’s southwestern province of Chaharmahal-Bakhtiari to generate electricity from solid waste.
Local companies will invest the same amount of money in the project.
Representatives of the U.S. company and Chaharmahal-Bakhtiari Province Governor General Malek-Mohammad Qorbanpour have signed a deal on the project.
In an exclusive interview with the IRNA news agency, Qorbanpour said that World Eco Energy has agreed to procure machinery and equipment, transfer technology, and employ 80 percent of the manpower from the local workforce.
The project will create 650 direct jobs and 2,000 indirect jobs, and will be implemented in four phases over the course of 24 to 36 months, Qorbanpour added.
The project has envisaged that about 250 megawatts (MW) of electricity will be generated per day from burning 1,500 tons of solid waste, he stated.
Iran plans to widely expand its use of renewable energy. On October 9, 2013, Homayoun Haeri, the managing director of the Iran Power Generation, Transmission and Distribution Management Company (TAVANIR), said Iran plans to construct three new wind farms, each with a power generation capacity of 350MW.
Haeri also said that in October 2013, Iran’s total wind farm power generation capacity stood at 120MW and the country’s total power generation capacity stood at 68.38 gigawatts.