Iran and Britain signed a memorandum of understanding (MoU) on cooperation in the field of renewable energies.
The MoU was signed between the Renewable Energy Organization of Iran and Britain's Solar Energy Companies Consortium in London on Saturday.
On the basis of the MoU, the British consortium will supply electricity to Iran and some other regional countries by means of utilizing solar energy through sharing solar technology and providing financial assistance.
In a relevant development on Thursday, Iranian Energy Minister Hamid Chitchian announced his country's readiness for investment by the UK firms.
"Iran is ready to accept investment by British companies in the field of water industry and management," Chitchian said in a meeting with a group of British industrialists and businessmen in London.
He said that Iran needs at least $12 billion of investment in its water and wastewater management sectors in the next five years.
