Moscow. Iran has proposed creating an SCO Energy Consortium to strengthen cooperation in the energy sector among Shanghai Cooperation Organization (SCO) member states and better coordinate supply and demand. This proposal was presented during the SCO Energy Ministers meeting held in Moscow.
Iranian Deputy Energy Minister Mostafa Rajabi said on Saturday that his country has submitted to member states a draft proposal related to the rules and structure of the SCO energy consortium, according to Iran’s state news agency PressTV.
He expressed hope that the proposal would be reviewed at the next summit of SCO leaders and could be formally adopted.
Rajabi said Iran has also proposed to interconnect the power grids of member countries to deal with the problem of power shortage.
According to him, this idea was first raised during a meeting of the SCO in the year 2024 and the member countries have welcomed the draft document prepared by Iran in this direction.
He said that Iran is rapidly pursuing solar energy expansion program domestically and also wants to diversify its power generation sources by increasing energy sector partnerships with allied countries.
Rajabi said Iran is committed to developing the regional electricity trading market among SCO countries, promoting smart grid projects and taking energy cooperation to new heights.
He claimed that Iran has increased its solar energy capacity by five times in the last one year. Along with this, the country is also working on plans to increase nuclear energy production capacity.
Experts believe that if an energy consortium is formed within the SCO, it is likely to strengthen the energy infrastructure of the member countries, enhance regional energy security and give new impetus to economic cooperation.
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