ArmInfo. Armenian President Armen Satrkissian, who is on a working visit to the United Arab Emirates, held a meeting Abu Dhabi with Mr Mohamed Jameel Al Ramahi, Chief Executive Officer of Abu Dhabi Future Energy Company (Masdar), the RA presidential press office reports.
The sides discussed opportunities for developing cooperation in renewable energy, up-to-date technologies, science and education. Mr Sarkissian stressed that the investment project of construction of a photovoltaic power plant with a capacity of 200 MW, a renewable energy project in Armenia, with the Masdar company, is the first step in mutually beneficial cooperation. He weclomed an agreement on the construction of one more 200 MW power plant reached on January 16.
Armenia's president noted that the implementation of renewable energy projects of construction of power plants with a total capacity of 400 MW will lay a solid basis for larger-scale cooperation and is the first step toward diversifying Armenia's energy system.
"I hope the project will lay the basis for long-term cooperation," Mr Sarkissian said.
The sides also discussed opportunities for large-scale investments in wind-power engineering in Armenia.
On November 26, 2021, following the results of the competition, the Armenian government signed an agreement with the Masdar Company on the construction of the Ayg-1 photovoltaic power plant with a capacity of 200 MW near Talin,. Earlier, in July of this year, Masdar was declared the winner of the tender for the construction of this photovoltaic industrial station. According to the tender offer, the company offered a rather low tariff from the future solar generation facility - $0.0290 excluding VAT per 1 kWh of electricity. The beneficiary of 85% of the shares will be the Masdar Company, and 15% of the shares will belong to the Armenian National Interests Fund (ANIF) . Construction will be carried out in 2 years. The total cost of the investment program is estimated at $174 million. Masdar is a subsidiary of Mubadala Investment Company, UAE, with total assets of $220 billion and one of the world's leading companies in the field of renewable energy. It should be noted that according to the program for the development of renewable energy sources, solar power plants with a total installed capacity of up to 1,000 megawatts should be built in Armenia by 2030.
