• 7 hours Oil Prices Rise After API Reports Major Crude Draw
  • 8 hours Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 8 hours Gazprom Speaks Out Against OPEC Production Cut Extension
  • 9 hours Statoil Looks To Lighter Oil To Boost Profitability
  • 10 hours Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 11 hours Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 12 hours Whitefish Energy Suspends Work In Puerto Rico
  • 13 hours U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 1 day Thanksgiving Gas Prices At 3-Year High
  • 1 day Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 1 day South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 1 day Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 1 day Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 2 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 2 days ConocoPhillips Sets Price Ceiling For New Projects
  • 4 days Shell Oil Trading Head Steps Down After 29 Years
  • 4 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 4 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 4 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 4 days Venezuela Officially In Default
  • 5 days Iran Prepares To Export LNG To Boost Trade Relations
  • 5 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 5 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 5 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 5 days Rosneft Announces Completion Of World’s Longest Well
  • 5 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 5 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 6 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 6 days Santos Admits It Rejected $7.2B Takeover Bid
  • 6 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 6 days Africa’s Richest Woman Fired From Sonangol
  • 6 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 6 days Russian Hackers Target British Energy Industry
  • 6 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 6 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 7 days Lower Oil Prices Benefit European Refiners
  • 7 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 7 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 7 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 7 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
Has The Big Oil Fire Sale Started?

Has The Big Oil Fire Sale Started?

The world’s largest sovereign wealth…

Tesla To Spike, Then Crash

Tesla To Spike, Then Crash

Electric car giant Tesla is…

Iran Opens 42 Kilowatt Solar Energy Plant in Mashhad

Iran Opens 42 Kilowatt Solar Energy Plant in Mashhad

Despite being OPEC’s third largest oil exporter, Iran has been exploring alternative forms of energy for indigenous use. While its Bushehr nuclear reactor, the country’s first, is soon to come online and has attracted much international criticism due to widespread belief that it masks a covert nuclear weapons program Iran is also investigating other options, including solar.

Iran has announced the opening of a 42 kilowatt solar energy plant in Mashhad, Iranian TV reported.

Indicating the government’s belief in the future potential of renewable power generation, the government has contracted to buy electricity produced by solar installations at a price two times higher than the price of electricity generated by traditional fossil fuel power plants.

The Mashhad solar installation’s initial capacity is 42 kilowatts, which will rise to 110 kilowatts generating capacity once its second phase of its expansion is complete.

Iran’s Environment Protection Organization head Mohammad-Javad Mohammadi-Zadeh during an interview noted that solar power was a natural for Iran, as in places like Khorasan, the region enjoys 300 sunny days each year and “even if it is cloudy, you can still use the natural light.”

The Mashhad solar installation’s cost approximately $300,000, and it is expected to be operational for the next five decades. The Mashhad facility is the first in the country that is equipped with solar tracking, with the solar power generation panels changing their direction in response to the sun’s movement.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News