In February 2023, Mobarakeh Steel Company was anticipated to finance the solar photovoltaic power plant in Kouhpayeh County, Isfahan Province, with a capacity of 600 MW. The project is expected to receive an investment of USD 500 million. The first phase will likely add nearly 100 MW to the nation's power grid by July 2023.
Over the last several years, the oil-rich Persian Gulf region has emerged as a global leader in photovoltaic deployment and pricing.
At the time of our original study on solar energy costs in the GCC region, the largest active utility-scale solar plant was the 200-MW project forming phase 2 of Dubai's Mohammed bin Rashid Al Maktoum solar park (henceforth MBR2).
The steady year-on-year declines in CapEx and LCOE suggest learning behavior typical of mass-produced goods. Learning curve analysis has proven effective at projecting the price evolution of photovoltaic module manufacturing in a way that bottom-up analysis has not and is increasingly being extended to system-level analysis.
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