Dana Energy is increasingly contributing to the ever-growing demand for affordable energy in a reliable manner in line with our vision of powering the momentum that thrives nations, EnergyWise. We are proactively making investments in technologies enabling an effortless transition towards a greener business. With the evolving population and need for energy which directly and indirectly influence living conditions and prosperity of nations, Dana Energy is playing an essential role both in meeting demands and implementing climate actions.
We seek to balance profit with the protection of the planet and its population. In this regard, we are proactively implementing sustainable strategies by making active investments in green technologies such as the Carbon Bared company through which CO2 flaring emissions of the Tehran Oil Refinery are collected and recovered for secondary industries and food applications. Enabling the possibility of achieving zero flaring of the Tehran Oil Refinery whilst offsetting significant amounts of about 75-80 tonnes of CO2 per day.
Moreover, to unlock the significant potential of green energy harvesting in Iran, Dana Energy has strategically made investments to support the increase of the share of renewable energy in the overall energy mix of Iran whilst reinforcing SDGs in our business, harmonious with the transition towards a greener business.
Subsequent to performing technical and economic feasibility studies, we have participated in making investments in the Kourdeh photovoltaic power plant with a nominal capacity of 10 MW located in Fars province, in collaboration with our reputable international partner. This power plant has been connected to the national power grid of Iran as of July 2019, generating clean electricity for an estimated period of 20 years relying on the Power Purchase Agreement (PPA) with the Ministry of Energy. This solar farm is constructed with more than 30,000 solar panels, capable of generating electricity output of about 50 MWh during sunny days.