“Just days after US President Donald Trump called for further isolation of Iran, a Norwegian solar company signed a deal Tuesday to invest 2.5 billion euros in the country over the next five years.
“Norway is fully committed to the JCPOA (nuclear deal) and this is proof that we have taken the opening very seriously, and we will see more investment very soon,” Norwegian ambassador Lars Nordrum told AFP.
That makes it the second-largest investment deal in Iran since the 2015 nuclear deal eased global sanctions, and dwarfs the 600 megawatt solar project finalised just last month between Iran and British investment fund Quercus.
The Norwegian project is being financed by a consortium of European private and state investors, and backed by a sovereign guarantee from the Iranian government.
European and Asian businesses have shown great interest in tapping into Iran’s relatively wealthy and largely untouched market of 80 million people.”