by Staff writer, SF
Quercus, the British renewable energy investor, has stated that it will halt the construction of a 500 million euro (445.9 million pounds) solar power plant in Iran because of the recently imposed U.S. sanctions.
Planned as the world’s sixth largest solar plant, it would also have been the first renewable energy investment outside Europe by Quercus.
Partly because of the air pollution problems in Iran, the country has been trying to increase the share of renewable-produced electricity in its energy mix. It was also hoping to have about 5 gigawatts in renewables installed by 2020 to meet international commitments.