Mohammad Shariatmadari, CEO of PGPIC, stressed the legal and national imperatives for industrial sectors to generate their own electricity and called for closer collaboration with the Ministry of Energy to fast-track the project. He revealed that $2 billion in financing agreements have been signed with Bank Mellat and Bank Tejarat, and legal approvals and land allocations have already been secured.
PGPIC’s utility subsidiary, Fajr Energy, contributed over 1.4 billion kilowatt-hours to the national grid during last summer, supplying power to approximately 600,000 residents in Khuzestan. Shariatmadari highlighted the group's strong track record and investor confidence as a foundation for the solar initiative.
Deputy Energy Minister Mohsen Tarztalab welcomed the project and reaffirmed the ministry’s support, noting that existing regulations allow oil and gas field investors to use their revenues for renewable energy development. He added that the ministry is ready to assist with infrastructure needs including equipment, sites, and transmission lines.
Hamidreza Shahverdi, PGPIC’s renewable energy executive, called for formal agreements with the Ministry of Energy to ensure power generated from the solar farms can offset the group's energy feedstock needs. He expressed hope that the first phase of the project will begin soon and be completed in under five years, free from bureaucratic delays.
Senior executives from both sides attended the session, including Sorena Sattari, scientific advisor to PGPIC’s CEO, and heads of financial, investment, and renewable energy units within the holding.