Masdar Company, one of the leaders in the world in the field of renewable energy, was officially recognized by the Government of the Republic of Armenia as the winner of the tender for a 200 MW industrial-scale solar photovoltaic plant in Armenia.
In the international tender announced by the Armenian government, Masdar initially offered a tariff of 0.0299 USD per kWh. During the tender stage, the company offered a final tariff of 0.0290 USD per kWh.
The 200 MW solar power plant will be located in Talin and Dashtadem Communities in Aragatsotn Region, where solar radiation is quite favorable for such projects, and not favorable in terms of agricultural use.
Masdar Company and Armenian National Interests Fund (hereinafter referred to as ANIF) will own 85% and 15% of the shares of the joint company, respectively.
On this occasion, “Masdar” CEO Mohamed Jameel Al Ramahi said, “This is an important page on Armenia's path to clean energy. Low-cost solar energy will help boost new industries, create jobs, lead the country to a prosperous, truly sustainable future.”
In his turn, ANIF director David Papazyan mentioned, “We realize that this is the largest one-time investment in the green economy to date, one of the largest in the history of modern Armenia.”
The company will invest about 174 million USD. A new substation will be built within the framework of the project. The solar station will be built on an area of about 500 hectares, and as a side benefit, many direct and indirect jobs will be created.
The tender was part of the formal agreement on the development of 400 MW renewable energy projects in Armenia signed by Masdar and ANIF in November 2019. Further discussions are underway on the next 200 MW power plant installation program.
Armenian National Interests Fund (ANIF)
July 07, 2021 at 14:33