Following the conclusion and implementation of the Joint Comprehensive Plan of Action, the EU and Iran have resumed bilateral relations and launched cooperation in a number of fields. The energy sector will feature prominently in our future relations and we are committed to fully tap into its economic and social potential while contributing to achieve our climate multilateral commitments. The EU is ready to support Iran in making its energy system more efficient, transparent and sustainable and is prepared to provide expertise, technological knowhow and foster business investment.

The objective of the Business Forum on 29 April is to enable business relations and partnerships between Iran and the EU and to lay the ground for further cooperation and joint partnerships in the energy sector.

Iran's energy consumption is significantly high and is projected to grow by making Iran the largest natural gas consumer in the world. Iran has large potentials for energy saving and efficiency. The energy transformation in Iran addressing soaring electricity demand leads to new power plant builds with most efficient infrastructures and technologies allowing fossil fuels sold on international markets. At the same time, Iran is considering deployment of renewable energies sources and these plans are driving energy transition in the country. Iran is becoming a highly attractive emerging market for renewable energy projects. The country is set to experience rapid growth and the renewable energy production capacity is predicted to reach 5,000 MW in the next five years, under Iran’s sixth Five-Year Development Plan. To increase incentives for investing in renewable energy the government has adopted new laws of feed-in tariffs differentiating and 20 years guaranteed period for power purchase. Iran wants to benefit on various levels from a more energy-efficient Iranian economy: Energy exports could increase, generating more foreign currency; energy consumption would decrease, leading to lower needs for subsidies to Iranian people, as well as to a reduction of the high external costs entailed by fossil fuels combustion (smog in cities, environmental stress).

The Iran-EU business forum will give an opportunity to investors, businesses and developers to analyse the perspectives and investment opportunities for renewable energy development and for energy efficiency and energy conservation actions in Iran.

Through high level discussions and thematic sessions, the participants are expected to acquire a better understanding of the market and the latest developments regarding gas, renewable energy and energy efficiency sectors. European and Iranian companies will also have a chance to discuss doing business together to the benefit of investment, economic growth and job creation.

On April 30th, the High Level Conference on Climate Change, will bring together Iranian and European policy-makers as well as representatives from international organisations to review progress within the Paris Agreement, the role of clean energy in the transition to a low-carbon economy, and the urgent actions needed to adapt to the consequences of climate change.

These two events are taking place at a time when the European and Iranian interests in the development of clean energy solutions are converging. Iran has set national targets by its contribution to the Paris Agreement on climate change, and is progressing towards the ratification of this Agreement. These climate and energy goals have also been integrated into the 6th Five-year socio-economic development plan (2017-2021).