Iran has inaugurated a project to build a €350m ($370 million) renewable energy park in a tie-up with a German firm, a report said.

The park consists of various renewable energy sections including a 90MW wind farm, a 40 MW solar (photovoltaic) plant and a 20MW solar-thermal unit, Tehran Times reported.

The participation of the German firm will be in the form of foreign direct investment (FDI), Dashtbozorg, managing director of Khuzestan Regional Electricity Company, was quoted as saying.

“With the estimated value of €80 million, the first phase of the project which is a 50-mega watt wind farm has been stared; this farm will be constructed based on the world’s latest technologies and German turbines will be used in it,” Dashtbozorg said.

The official noted that the German company will finish the project in several phases over a period of two years.  “A universal institution for renewable energy education will also be constructed in the region,” he added.