Moscow, 21 June (H.S.):

Iran has proposed the creation of a Shanghai Cooperation Organization (SCO) Energy Consortium to strengthen cooperation among member states in the energy sector and improve coordination between energy supply and demand. The proposal was presented during the SCO Energy Ministers' Meeting held in Moscow.

According to Iran's state-run Press TV, Iranian Deputy Energy Minister Mostafa Rajabi said on Saturday that Tehran had submitted a draft proposal outlining the rules and organizational framework for the proposed SCO Energy Consortium to member countries. He expressed hope that the proposal would be reviewed at the next SCO Leaders' Summit and could be formally adopted.

Rajabi said Iran has also proposed interconnecting the electricity grids of SCO member states to help address power shortages across the region. According to him, the idea was first introduced during an SCO meeting in 2024, and member countries welcomed the draft document prepared by Iran on the initiative.

He said Iran is rapidly advancing its domestic solar energy expansion programme while simultaneously seeking to diversify its electricity generation sources by strengthening energy partnerships with friendly countries.

Rajabi added that Iran remains committed to developing a regional electricity trading market among SCO member states, promoting smart grid projects, and elevating energy cooperation to a new level.

He further claimed that Iran had increased its solar power generation capacity fivefold over the past year. In addition, the country is pursuing plans to expand its nuclear power generation capacity.

Experts believe that if an SCO Energy Consortium is established, it could strengthen the energy infrastructure of member states, enhance regional energy security, and provide fresh momentum to economic cooperation across the bloc.

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Hindusthan Samachar / Jun Sarkar