BEIJING, July 18 (Xinhua) -- Sinosteel Corporation will join hands with an Italian company Denikon to construct a solar power station in the city of Yazd, central Iran, IRNA reported.
A memorandum of understanding was recently signed by Denikon and Sionsteel in the historic city of Yazd.
The MoU includes constructing a 500 to 1,000 MW solar power plant with 20,000 solar panels of 5 MW and a solar panel factory.
Denikon is an institute active in finding, promoting and developing international investment opportunities. Sinosteel, is a state-owned company active in mining, metal industry, power plants and transportation. It has already invested 2.5 billion dollars in Iran so far.
Due to its geographical position and favorable sunlight condition, the city of Yazd is known as Iran's paradise for solar energy. The solar power plant is expected to decrease the fossil fuel consumption in the city in the future. (Edited by Yang Qi, kateqiyang@xinhua.org)
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