Iran, China sign deal to jointly produce high-tech renewables inverters
Iranian and Chinese firms signed on Monday a cooperation agreement to jointly produce advanced inverters used in the renewable energy sector and transfer the related technical know-how to Iran — a move that will enable the technology to be localized domestically for the first time, according to IRNA.
The cooperation agreement, signed in Tehran between an Iranian knowledge-based industrial group and a Chinese company, is supported by Iran’s ministries of energy, economy, and industry, mining and trade. Under the terms, the Chinese side is to invest $150 million in production facilities in Iran.
The Iranian firm’s chief executive said the project will promote the use of new renewable energy technologies inside the country, noting that global and domestic demand for renewables has been steadily rising and has doubled each year in Iran, making the sector increasingly attractive for investment.
He added that the agreement aligns with Iran’s Seventh Development Plan (SDP), which emphasizes addressing electricity shortages by expanding renewable energy sources. More than $15 billion is expected to be invested in renewables development under the plan, he said.
According to the company, localizing inverter production could prevent the annual outflow of around $1.5 billion in foreign currency currently spent on importing the technology.
The firm described the deal as a “significant step” toward meeting Iran’s national target of adding 30,000 megawatts of renewable capacity.
The agreement comes as President Masoud Pezeshkian’s administration pushes to rapidly expand the country’s renewables sector to reduce electricity shortages.
The country generated about 2,700 MW from renewable sources as of November 2025, equal to roughly 2.8% of total daily power output of about 95,000 MW, according to official data.
The government aims to increase renewable capacity to 7,000 MW by March 2026 and 11,000 MW next summer, Energy Minister Abbas Aliabadi said last week.
The deal was announced as Iran opened the 25th International Electricity Industry Exhibition and the 15th International Renewable Energy and Energy Efficiency Exhibition in Tehran on Tuesday.
This year, the two exhibitions are being held jointly for the first time, a move organizers said will strengthen scientific, commercial and technological collaboration within the sector.
Speaking at the opening ceremony, Aliabadi described the exhibition as a venue for industry engagement and exchange. He said expanding renewable power remains a key priority for the ministry and reiterated plans to reach 7,000 MW of solar capacity by the end of the current Iranian calendar year (March 20, 2026).