Spanish and Iranian companies sign $250 million deal

• 8 years ago (2015-08-12)
• Junior Isles

Africa 303 Middle East 311 North America 998 Renewables 752

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Iran’s Sunir, an electrical products company, and Spain’s Bester Generation have signed a memorandum of understanding to develop renewable power generation projects worth $250 million in Chile and Mexico.

While the current deal is only related to projects in Chile and Mexico, the Managing Director of Sunir, Bahman Salehi, intimated that further cooperation on other projects in the Middle East, Africa and Latin America were also in the pipeline, specifically noting that the two companies were studying plans to set up additional solar and wind plants in Iran and Afghanistan.

This has been backed up with the signing of an additional technical engineering agreement to work on designing and producing equipment related to renewable energy sources.

Salehi said: “Iran plans to turn into an energy and power hub in the Middle East in the near future. Hence, there is a plan on the agenda to set up joint power transmission lines with most of the neighbors…”

As part of the deal, Sunir will cede a stake of its portfolio in the Middle East, Africa and southern Asian areas to Bester, while Bester will involve the Iranian company in its own projects in South America.