What the company brings, and what a partner brings
Land, licence and engineering study are provided by the company. The partner's contribution is construction capital. The terms of each partnership are settled through discussion with the partner concerned.
Company contribution
- 96,791 m² of land, owned outright and carried at no cost inside the investment
- 3 MW construction licence in the company's name over 45,000 m²
- Technical and financial feasibility study based on PVsyst simulation
- Permitting, grid connection and follow-up approvals
- Construction management and long-term operation of the plant
Partner contribution
- Funding the turnkey build of approximately USD 1.29 million
- Or supplying equipment — modules, inverters, structures — in lieu of cash
- Or staged funding tied to physical progress on site
- Optionally, an EPC contractor the partner already trusts
Project cost structure
The land is owned by the company and carries no cost in the figures below. Specific investment cost is USD 485 per kWp installed. Return figures in the sensitivity table are based on the USD 1.55 million capital base used in the feasibility study; adding the security line lowers the IRR by roughly 0.3 percentage points.
Each item as a share of the USD 1.59 million total.
| Turnkey construction of the 3 MW plant | USD 1,290,000 |
|---|---|
| 20 kV transmission line, 6 km | USD 130,000 |
| Site preparation, access road and water supply | USD 25,000 |
| Perimeter fencing and security system (CCTV, intrusion alarm, lighting) | USD 40,000 |
| Permits, engineering, studies and construction insurance | USD 40,000 |
| Contingency (about 4%) | USD 65,000 |
| Total investment | USD 1,590,000 |
| Maintenance, repairs and spares | USD 16,000 |
|---|---|
| Module cleaning and water supply | USD 8,000 |
| Staff, site security and security-system upkeep | USD 9,000 |
| Asset and liability insurance | USD 6,500 |
| Administration and miscellaneous | USD 3,500 |
| Exchange fees and grid services (3% of revenue) | USD 7,443 |
| Total annual cost | USD 50,443 |
Why the green power board
A statutory buyer base
Under Article 16 of the Knowledge-Based Production Leap Act, industrial consumers above 1 MW of demand must source 5% of their electricity from renewables within five years.
Sustained price growth
The average price rose from IRR 43,447 in 1403 to IRR 94,380 in trades on 15 June 2026.
Growing traded volume
Green board trading began in 2023 and passed 2.3 billion kWh cumulatively by the end of 1404.
Market price discovery
Prices are set by supply and demand rather than administratively, giving them room to track inflation and the exchange rate.
Buyer diversification
Energy can be sold to several buyers, reducing dependence on a single counterparty.
Transparent settlement
Exchange settlement is faster and more transparent than traditional offtake arrangements.
Five-year revenue under three price scenarios
Switch scenario and both chart and table update. Basis: 5,830 MWh in year one with 0.55% annual degradation.
Figures are gross and before operating costs. USD equivalents use a rate of IRR 1,880,000 and no price escalation is assumed. None of these figures constitutes a guaranteed return.
Sensitivity to the sale price
Each 10% rise in construction cost lowers the IRR by about 1.2 percentage points; each 5% gain in output raises it by about 1.1 points.
| Sale price (IRR per kWh) | First-year revenue (USD) | IRR | Payback (years) |
|---|---|---|---|
| 60,000 | 186,000 | 5.5% | 11.7 |
| 70,000 | 217,000 | 8.2% | 9.5 |
| 80,000 (base) | 248,000 | 10.6% | 8.0 |
| 90,000 | 279,000 | 12.9% | 6.9 |
| 100,000 | 310,000 | 15.1% | 6.1 |
Illustrative financial scenario. Figures rest on current project assumptions and are provided for information only. Actual results will vary with electricity prices, exchange rates, construction costs, financing conditions, operating performance and regulatory factors.
Who contributes what
Azar Mehr Pargas contributes
- 96,791 m² of owned land
- 3 MW construction licence
- Feasibility study and PVsyst modelling
- Permitting and grid connection
- Construction management and operation
The investment partner contributes
- Construction capital
- Or equipment supply in lieu of cash
- Or staged funding by milestone
- Optionally, a trusted EPC contractor
Three ways in
Joint construction
The investor funds the build and shares in energy sales revenue on agreed terms.
Equity participation
Acquiring a shareholding in the project company, with a role in governance and long-term returns.
Equipment supply
Suited to manufacturers and suppliers who prefer to contribute hardware rather than cash.
Identified risks and mitigation
| Risk | Likelihood | Mitigation |
|---|---|---|
| Green power price volatility | Medium | Longer-term offtake contracts, buyer diversification and a reserve price on each offering |
| Currency volatility | High | Staged letters of credit, fixed-currency supply contracts and partial domestic sourcing |
| Grid connection delay | Medium | Securing the connection agreement before equipment is ordered |
| Soiling losses from dust | Medium | At least eight cleaning cycles per year, with 3% soiling loss already in the model |
| Coastal corrosion | High | 80 µm hot-dip galvanising, stainless fixings and periodic inspection |
Investor data room
The following documents are prepared for investors entering evaluation. They are shared after an initial conversation, under an NDA where appropriate.
The evaluation path
Initial conversation
A short call to align expectations and identify the structure you prefer.
Information pack
Feasibility study, licence summary, site map and financial model.
Site visit
A visit to the land in Bushehr, the access route and the grid connection point.
Due diligence and terms
Technical and legal review by your advisers, then agreement on the partnership structure.