London-based firm is to become one of the largest players in Iran’s fledgling renewable energy market, under a deal that will see a 600MW solar project built in the Middle Eastern state. Renewables investor and developer Quercus will today ink an agreement with Iran’s Ministry of Energy, making the company responsible for the construction, development and operation of the new plant. Construction is expected to begin next year with one standalone 100MW lot set to be delivered every six months. Quercus chief executive Diego Biasi told Reuters the company would invest over €500m in the project, which represents the investors first foray outside the European market.
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