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India to invest in Iran renewable energy sector

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India to invest in Iran renewable energy sector
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Tehran: India will provide money and technical know-how to Iran to build wind and solar power plants, the Iranian official media reported Monday.

Both sides have already finalised an agreement, Xinhua quoted the Press TV as saying.

The private sector will be involved in the endeavour, said Yousef Armodeli, head of Iranian Renewable Energy Organisation.

He also said that several contracts were signed with the private sector to construct renewable power plants capable of generating 12,000 MW of electricity.

Iran's production capacity of renewable energy will double by the end of its fifth five-year plan (2010-2015), he added.

IANS

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