Germany-based solar PV developer Solarwatt announced to develop a 30MW PV power plant in Iran, while the company is applying for permission to build.

Germany has been the major European trade partner to Iran. German government launched a plan to promote renewable energy industry in Iran in this May.

Iran has reinstated 20-year power purchase agreements with Germany at FiT rates of €0.17~0.30/kWh, according to Tasnim News Agency.

Although Iran’s economy has been restricted by the Joint Comprehensive Plan of Action, Solarwatt and many German solar companies are still eager to make profit from Iran’s potentially lucrative market.