The MoU was signed on the sidelines of the 29th Iran
International Oil, Gas, and Petrochemical Exhibition by Mohammad Shariatmadari,
CEO of PGPIC; Dr. Farshid Farokhnezhad, CEO of Bank Mellat; and Dr. Hadi
Akhlaghi Feyz Asar, CEO of Bank Tejarat.
Focus on Renewable Energy Expansion
According to Shariatmadari, PGPIC has established a
specialized center for the development of renewable energies, particularly
solar power, in collaboration with experienced energy experts. “We required
significant funding for the 5,000 MW solar project, which is now being secured
with the support of the National Development Fund and the two banks,” he said.
The CEO emphasized that PGPIC’s non-industrial petrochemical
brands will now operate under solar energy, and solar power plants will be
developed within petrochemical companies that have sufficient land resources.
Strategic Land Allocation and Regional Development
For companies lacking sufficient land, Shariatmadari
mentioned that arrangements have been made to establish solar plants in key
provinces such as Lorestan and Semnan, where land allocation support has been
offered by local authorities. “We will carry out these projects through the
equity participation of our subsidiary petrochemical companies,” he added.
Initial Projects Underway
He further noted that preliminary steps for two initial
plants — one 200 MW and one 100 MW — have already been completed. The
implementation will be closely monitored by PGPIC’s innovation and technology
advisors and its newly established solar energy institute. “We aim to help
reduce the country’s energy imbalance through timely execution of these
projects,” Shariatmadari concluded.