Iran Press/ Iran news: The first transaction was conducted through the Iran Energy Exchange, a stock exchange-like platform that allows buyers and sellers of electricity to trade directly with each other. The first transaction involved the sale of 670-kilowatt hours of solar power at a price of 1,995 Iranian tomans (about $0.04) per kilowatt hour.
Iran has abundant solar and wind resources, and the government aims to generate more electricity from renewable sources.
The launch of the renewable electricity market is expected to help to attract investment in the country's clean energy sector.
Speaking at the launching ceremony, Mahmoud Kamani, head of Iran's Renewable Energy Organization said: "The pricing of renewable electricity will be based on the mechanism of the energy exchange."
According to him, industries with electricity consumption of more than 1 megawatt are obliged to supply one percent of their electricity from renewable energy, which is available to buy on Iran Energy Exchange.
In this ceremony, Energy Minister Ali-Akbar Mehrabian said: "Iran's Energy Exchange will answer the economic uncertainty in electricity supply and green electricity will create a competitive market for renewable electricity producers."
Mehrabian added: "In this plan, the industries were obliged to get 1% of their electricity from renewable energies and this figure will increase to 5% in the next 5 years. Also. the administrative sector of the government is also obliged to provide 5% of their electricity in the first year, and up to 20% in the next 4 years from renewable energy sources."
According to officials, Iran is the first country to launch such a market among the countries in the region.
The launch of the renewable electricity market is a significant development for Iran and could have a major impact on the country's energy sector. It is a sign of the government's commitment to clean energy and could help to attract investment in the country's renewable energy sector.
207
Read more:
President Raisi: Iran Pakistan's historic ties; exemplary
Iran, ready to contribute to water and electricity industry reconstruction in Syria
