Solar energy projects of 400 megawatt general capacity will be developed in Armenia and investments over 300 million USD will be made. The first project envisaged by the agreement relates to the construction in the western part of Armenia of the solar photovoltaic stations of 200 megawatt general capacity. These investment in the sphere of renewable energy are stipulated in the official agreement between the Masdar company and the Armenian National Interests Fund (ANIF) for the joint development.
On 30 November, in Abu Dhabi President Armen Sarkissian was present at the official agreement signing ceremony between the Masdar company and the Armenian National Interests Fund (ANIF) for the joint development.
“We used the opportunity which President Sarkissian opened during his visit to the UAE last January. As a result, high quality and competitive partners will come to Armenia with an excellent proposal. We are planning to have in Armenia the second energy station which will match the capacity of the existing nuclear power station and will work on renewable energy sources,' the Director of ANIF David Papazian said.
The President hailed the accomplished works and noted that this cooperation establishes a good base for a broader cooperation.
“This is only the beginning of a long journey. Together we can do much more. We need to work harder and we will have good results which will benefit you as well as Armenia,” the President of Armenia said. “Armenia has beautiful nature and we have to be very careful with our nature. Energy production and mining are industries which we have to be very careful about. I believe this cooperation will be successful not only in making Armenia greener but will also be useful in making Armenia’s energy system more balanced.”
December 02, 2019 at 18:07