Iran launches major solar fund and renewable energy IPO

Iran is advancing renewable energy infrastructure through significant new capital market offerings. The ‘Noor’ solar project fund is set to be listed on the stock market to finance a 500-megawatt solar capacity spread across 106 power plants in nine provinces. The total estimated cost for completing these projects is approximately 26 trillion tomans, with an initial public offering of 5 trillion tomans. Many of these sites have already reached 65 percent physical progress, and some are already generating and selling electricity. The project aims to connect all sites to the national grid by June 2027.

Additionally, the Manjil renewable energy power plant is scheduled for an initial public offering (IPO) on the Iran Fara Bourse. The offering involves 270 million shares, representing 9 percent of the company's total shares. The process will be conducted in two stages: an auction for qualified investors involving 3 percent of shares, followed by a fixed-price offering for retail and other legal investors involving 6 percent of shares. The valuation for each share is set at 14,080 rials.