World Eco Energy, the US based firm has signed an agreement to invest $1.175bn to convert solid waste into electricity in Iran, reported CTBR, Green Power.
World Eco Energy is planning to generate 250MW of electricity a day by burning trash and by processing algae and salt as well as waste water into power.
The project, located in the south-western province of Chaharmahal-Bakhtiari will create 600 to 700 jobs, of which 80 percent can be assigned to locals.
World Eco Energy will provide equipment, machinery and technical expertise required for this project. The electricity generation will commence from September 2014, added the report.
Iran has been expanding its use of renewable energy resources with the announcement of such projects. In 2013, the country agreed to build three new wind farms, each with a 350MW power capacity.
The total wind farm power generation capacity in Iran was 120MW in 2013 while the country’s total energy generation capacity was 68.38GW.
Iran is having final round of discussions with developed countries to settle global concerns about its nuclear program.