India and Korea in $10bn Iranian energy park consortium

Khuzestan Province, Iran

Khuzestan Province, Iran

Iranian energy park: A consortium of Iranian, Indian and South Korean companies are looking to set up an energy park in Iran’s Khuzestan province in a project worth $10 billion. The park would include the capacity to generate 1,000 megawatts of solar power, according to reports in Iran’s IRNA news agency.
Representatives of the consortium visited provincial authorities on Sunday to outline their plans, the news agency said. The project is part of Iran’s bid to establish 5,000 megawatts of renewable capacity in a country which relies on fossil fuels for 54% of its electricity.Renewables currently account for less than 14% of the country’s energy mix which mainly come from hydro plants, but a lingering drought has reduced production.