Italy’s Denikon and Chinese Sinosteel Corporation signed a memorandum of understanding in Iran’s central province of Yazd on Sunday for cooperation in various solar projects in Iran, IRNA reported.
As reported, numerous Iranian officials along with representatives of the Chinese and Italian companies attended the signing ceremony.
The MOU covered various fields of cooperation including construction of 500-1000 megawatts (MW) capacity of solar farms in Yazd, construction of 20,000 small-scale 5-kilowatt solar plants for houses and finally establishing a solar panel manufacturing unit in the region.
Sinosteel Corporation is a central enterprise under the administration of the State-Owned Assets Supervision and Administration Commission. The company has invested over $2.5 billion in Iran so far.
Denikon operates as companies’ consultant for the development of projects in the field of renewable energies, among other fields.