World
16:03, 18-Oct-2017
Norway solar firm signs 2.5 bln-euro deal with Iran
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Just days after US President Donald Trump called for further isolation of Iran, a Norwegian solar company signed a deal on Tuesday to invest 2.5 billion euros in the Middle Eastern country over the next five years.
"Norway is fully committed to the JCPOA (nuclear deal) and this is proof that we have taken the opening very seriously, and we will see more investment very soon," Norwegian ambassador Lars Nordrum told AFP.
He was hosting the signing at his Tehran residence between Norway's Saga Energy and Iran's Amin Energy Developers, who will work together to install two gigawatts of solar panels in multiple sites around the central desert region.
That makes it the second-largest investment deal in Iran since the 2015 nuclear deal eased global sanctions, and dwarfs the 600-megawatt solar project finalized just last month between Iran and British investment fund Quercus.
The timing was coincidental, but comes just days after Trump's bellicose speech in which he called for further sanctions on Iran.
It underlines the challenge Washington hardliners will face in trying to convince Europeans, who have remained firmly behind the nuclear deal, to abandon their burgeoning ties with the Islamic republic.
The Norwegian project is being financed by a consortium of European private and state investors, and backed by a sovereign guarantee from the Iranian government.
"I'd like to thank Norway, which has always been one of the best friends to Iran, for this exciting opportunity," said Saeid Zakeri, head of international affairs for Amin.
Source(s): AFP