Page 53 - IRANRptAug18

(MW) photovoltaic power plant located 130 kilometres outside Tehran.
The French-Iranian project follows that of Phelan Energy Group from South Africa . It has built a 10 MW solar plant in the small city of Khusf in Iran’s South Khorasan province, SHANA news agency reported on April 24.
According to Mohammad Shafiei, governor of Khusf, the government has offered a 13-year tax exemption for renewables, making the prospect of opening a plant in Iran a viable alternative to a more traditional oil and gas investment. Meanwhile, Oslo-listed Scatec Solar last September announced that it is looking to build a 120 MW solar power plant costing around $125mn in Iran, and possibly a 500 MW plant after that.
Iran currently draws roughly 53 MW of power from solar generation, energy ministry data shows. It is attempting to add 932 MW in the next few years thanks to deals signed already.
9.2.8 Other corporate news
India’s Kolkata-based Emami Group cosmetics maker intends to enter Iran by the end of this year despite the US sanctions campaign that is taking a heavy toll on the Islamic Republic’s economy, Business Standard reported on July 31. European cosmetics manufacturers who bet big on Iran in recent years have found themselves stuck between a rock and a hard place given the impending sanctions, the first phase of which snap back on August 6. Many of those companies have since wound down their operations in the country with the Iranian rial (IRR) having collapsed and the Rouhani Administration having announced that, to preserve hard currency, it was banning imports of various products including some cosmetics.
“We are planning to enter Iran by the end of this year, and from the first quarter of the coming fiscal year, we intend to start selling our products,” Prashant Goenka, a director at Emami, told the Indian daily. Goenka added that Iran does not allow pure foreign direct investment, thus the market entry would require a partnership. Emami is yet to shortlist which Iranian partners they might work with.The company said it would consider an equity holding in the case of a local partnership.
53 IRAN Country Report August 2018 www.intellinews.com