TEHRAN – The promising capacity of renewable power sources sets the country on ideal path to develop and apply new energies at large scale, Yusef Armodeli told the Persian service of ISNA here on Friday.

“Although Europeans lead the way in this field with substantial investment, nevertheless, Iran seems to enjoy better position among the Middle East countries in this regard given its diverse and natural potentials,” executive director of Renewable Energy Organization of Iran (REOI) added.

Referring to Rls.500b annual budget, Armodeli said this is indicative of the positive stance employed by nation’s governing bodies on this issue and the allocations are set to increase tenfold within the Fourth Development Plan (2005-2010).

Wind and solar energies are in the use in some spots of the country as backup to the grid and the private sector is going to participate in construction of a 250 MW wind power station, driven by turbines, in Manjil, northern Iran.

Agreement in principle has already been issued and the stage is set for purchasing land and building the infrastructures, he said.