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OSLO / Reuters
Norway’s Saga Energy has signed a 2.5 billion-euro ($2.94 billion) deal to build solar power plants in Iran, the company said, just days after US President Donald Trump unveiled a more confrontational policy toward Teheran.
Saga’s preliminary agreement with Iran’s state-owned Amin Energy Developers was the latest in a flurry of deals by foreign companies since the easing of international sanctions on the country in 2016 after it agreed to limits on its disputed nuclear programme.
The deal, which still depends on finalising economic guarantees from Tehran, would see the construction over a four- to five-year period of 2 gigawatts of power generation capacity, Saga Energy spokesman Rune Haaland said.
The company will rely on banks, pension funds and Norwegian state export guarantees to fund the plan, and aims to recoup its investment through a 25-year deal on electricity prices, he added. While Saga and Lithuania’s SoliTek will produce the solar panels, much of the remaining equipment will come from Taiwan’s Delta Electronics Inc.