Financial Tribune - The Energy Ministry is rewriting policy to increase the guaranteed purchase price of renewable power by 30% by next month, spokesman of Iran’s Renewable Energy and Energy Efficiency Organization (Satba) said.

Satba has proposed the higher price to the government to encourage investment, mostly the private sector, Jafar Mohammadnejad Sigaroudi told the Energy Ministry news portal Paven.

The ministry in 2015 delegated Satba with the task of building and developing renewable power plants.

Iran is largely dependent on thermal power but is gradually moving towards renewables to help protect the environment and help fight global warming.

“A major incentive in this regard was a government scheme that guaranteed the purchase of green power for 20 years,” Mohammadnejad Sigaroudi said.