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Quercus: Diego Biasi closes 500m euros deal in Iran

It is worth more than €500ml the deal that Quercus, a London-based green company investment, signed with Iran’s energy Ministry. Both parts reached an agreement for installing a 600-megawatt plant in central Iran – a plant big enough to compete with world’s major solar plants, such as US, India and China.

Energy Ministry’s aim is in fact the one of encounter the raising demand of energy in the Country, alongside the need of lowering carbon emissions and, therefore, air pollution. While encouraged by the constantly lower cost of solar panels as well as wind turbines, this huge investment proves Iran’s opening for business, creating a “huge opportunity” for renewable energy investors.

Government plans foresee an installation of 5 gigawatts of renewable energy capacity within 2020, in particular solar power plants exploiting the constant availability of the sun on the territory. The aim is, in fact, to turn Tehran to a “hub of solar energy serving the region and beyond” as Hamid Baeidinejad – Iran’s ambassador to the UK – stated.

Mr Diego Biasi asserts that this deal will represent an important step forward for the United Kingdom, as joining other countries in getting a share of Iran, a strategic Country inside the global asset.
Likewise, Quercus signs a notable agreement, which represent the first one concluded outside of Europe, where the company invested overall more than €500m.

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