According to the Public Relations of the National Development Fund, Alireza Mir-Mohammadsadeghi stated during the signing of the agreement between the National Development Fund and SATBA for financing renewable power plant construction from the National Development Fund's resources. He mentioned that the National Development Fund has supported 46 power plant projects with a capacity of 7,200 megawatts in recent years. Out of this capacity, 6,000 megawatts have been connected to the grid. However, some operational power plants face difficulties in repaying installments, and there is a $1.2 billion overdue payment.
He continued, The National Development Fund can support new projects provided that the Fund's installments and arrears are paid. Previously, the National Development Fund has committed to the Minister of Energy that any resources obtained from the repayment of power plants to the fund will be reinvested in power plants.
A member of the National Development Fund's board of directors, referring to the memorandum of agreement between this fund and SATBA, stated: "The first phase includes 4,500 megawatts, with a maximum pact of up to five billion dollars." SATBA is responsible for verifying the identity and eligibility of the applicants, after which they will be referred to the operating bank and the National Development Fund. The initial evaluation of projects is conducted by the operating bank, which then presents them to the National Development Fund. SATBA must establish the required mechanisms for fulfilling commitments.
Mir Mohammad Sadeghi added: In this regard, a trust account is established in the operating bank, and the repayments are deposited into this account. Seventy-five percent of the matured installments go to the National Development Fund, and 25 percent of the resources are allocated for the maintenance and repair of the power plant.
He stated that the guaranteed purchase period is 90 months, but efforts will be made to complete the project in less than 24 months. A six-month buffer is considered, and the installments are required to be repaid within 60 months.