University of Kashan and Elektra Technologies International Ltd. signed a memorandum of understanding on constructing a 10-megawatt solar power plant in University of Kashan.
According to this memorandum of understanding that was signed between University of Kashan and Elektra Technologies International Ltd., it is agreed that the foreign investment will take over the financing of $ 20M of the solar power plant in the first phase of the project.
After the completion of the project in the first phase, the foreign investment tends to expand the installed power plant capacity to 100 megawatts, an investment of $ 200M, Head of Energy Institution of University of Kashan, Dr. Saeed Golabi elaborated on the content of the memorandum.
Dr. Saeed Golabi also added: technical and economic studies which has taken place during last year by Energy Institute of University of Kashan shows that the construction of a solar power plant on a large scale is technically possible and financially feasible.
It is estimated that by the exploitation of this power plant, 18 million kilowatt-hours of clean power are generated annually and the emission of 16 thousand tons of carbon dioxide is avoided.
Elektra Technologies International Ltd. has a background for supplying 3500 megawatts solar power plant equipment in various projects around the world.