Monday, December 2 2019 12:18

ArmInfo. Masdar Company from Abu Dhabi will attract $ 300 million for the construction of 400 MW solar power plants in Armenia. The signing ceremony, in which the President of Armenia Armen Sargsyan took part, was held in the UAE between the  Masdar company and the State Interest Fund of Armenia.

According to the press service of the President of Armenia, after the  ceremony of signing the document held at New York University in Abu  Dhabi, the President of the Republic met with the Executive Director  of the Mubadala Investment Company Haldun Al Mubadarak and the  Minister of Energy and Industry Suhail Al Mazru.

"In the last period, relations between our two countries have  significantly advanced, thanks to your efforts.  You have made a  great contribution to the progress in our relations, and today we are  cooperating in an atmosphere of trust and mutual understanding,"  addressing President Sargsyan, said Khaldun Al Mubarak, adding that  there are few presidents in the world who are capable of such diverse  policies and who have a good idea of how the economy works.

Director of the Armenian State Interest Fund David Papazyan,  expressing gratitude to Sargsyan for his assistance, said: "We took  advantage of the opportunity that Armen Sargsyan opened during his  January visit to the UAE. As a result, a very high-quality and  competitive partner with an amazing offer will come to Armenia. We  are planning the construction of power plants based on renewable  energy sources with a total installed capacity equal to the Armenian  Nuclear Power Plant. " Highly appreciating the work done, Sargsyan  noted that this cooperation creates a good basis for wider  interaction. "This is only the beginning of a long way. Together we  can do much more. We need to work more diligently and there will be a  good result that will benefit both you and Armenia," the president  said, pointing out the importance of caring for nature. According to  him, electricity production, mining - These are the industries for  which caution must be exercised. "I think this cooperation will be  successful not only in terms of what will make Armenia much greener,  but also will be useful in order to make the energy system of Armenia  more balanced," the head of state said.  At the same time, he  proposed to consider Armenia as a platform for entering the large  market of the Eurasian Economic Union.  Recall that on July 12, in  Yerevan, between the Executive Director of Masdar Mohammed Jamil Al  Ramahi and the Executive Director of the National Interests Fund of  Armenia David Papazyan, an agreement on cooperation in the field of  solar photovoltaic (200 MW), wind (200 MW) energy and "floating"  solar installations (100 MW). As Papazyan noted then, more than 200  rivers and lakes can be used for floating solar programs. In Armenia,  where the wind speed is 8.5 meters per second, there are favorable  conditions for construction and a wind farm. The country records an  indicator of 1,720 kWh of solar energy per 1 sq.  Km. meter, unlike  the European average of 1000 kWh, "he said. Armenia, being a full  member of the International Renewable Energy Agency since 2010, Abu  Dhabi, aims to provide more than a quarter (26%) of domestic demand  through renewable energy by 2025 energy. It should be reminded that  construction of the Masrik-1 industrial-scale solar power plant is  ongoing in Armenia, which is being built by the winning consortium  from a Dutch company with Spanish roots Photowatio Renewable Ventures  BV and Spanish FSL Solar SL (FSL Solar SL). The consortium founded  the Efarvi Masrik company in Armenia with an estimated cost of the  investment program exceeding $ 55 million.  Masdar is engaged in the  commercialization and localization of renewable energy projects in  order to address the challenges of global stability through  sustainable urban development and clean technologies.  Masdar  promotes the country's leadership in the global energy sector through  diversification of the economy and energy sources for the benefit of  future generations. "Masdar" operates in the UAE, Jordan, Mauritania,  Egypt, Morocco, Great Britain, Serbia and Spain.  The National  Interest Fund of Armenia is an investment fund of foreign capital  investments operating under the auspices of the Government of  Armenia, which will co-finance large-scale programs along with global  investors and partners. The goal of the fund is to become an active  investor and partner in order to generate and facilitate the  attraction of investments in infrastructures and the most important  sectors of the economy.