(Persia Digest) - The groundbreaking ceremony for the first phase of the 100 MW Meybod Solar Power Plant Project by SMA Solar Technology AG will take place on Thursday 12 October 2017. Phase I of the project will provide 10 megawatts of electricity and Phase II 90 megawatts. The project will be fully operational in Phase II. The first phase will be completed by the year-end and the total of 100 megawatts will come into operation by March 2019.

The project is being financed by SMA Solar Technology AG. The costs for Phase I is an estimated USD 12MM. Based on this, USD 120MM will be invested for the entire 100 megawatts project. The German company is also planning to build a solar power plant with a 500-megawatt capacity with the help of foreign investments in Iran.

The Iranian Ministry of Energy plans to have five thousand megawatts of renewable energy by the end of 2021, nearly 50% of which will be powered by solar plants. Privileged with 300 days of sunshine per year and an average of 4.5 to 5.5 kilowatt-hour insolation per square meter per day, experts in the power and energy industry say Iran is a high potential country for harnessing solar energy one-hundred percent. These two advantages, along with the Iranian government's welcome to invest in renewable energies by providing high incentives and abidable regulations, are important motivations for investing in this area. It is worth noting that the strategic location of Iran gives it the edge to act as an energy corridor for all the neighboring countries who require power and become an exporter of clean energy.

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