The Norwegian company Saga Energy (part of Taiwan’s Delta Group) has inked a €2.5bn (US$2.9bn) deal with the Iranian state-owned firm Amin Energy Developers to build around 2,000 MW of solar PV projects across Iran over the next five years. However, the deal will be finalized only when economic guarantees from the Iranian government will be delivered. Saga Energy expects to fund the deal through pension funds, banks and with the help of Norwegian state export guarantees. The new capacity is scheduled to be installed in three development phases across six regions, of which Razavi Khorasan, Kerman and Yazd.
Saga Energy belongs to Delta Electronics Inc, which is a Taiwan-headquartered power electronics company specializing in solar inverters. Saga Energy and the Lithuanian company SoliTek will produce the solar panels while much of the remaining equipment such as the inverters will come from Taiwan’s Delta Electronics.