ArmInfo.Armenia's Minister of Economy Vahan Kerobyan hosted UAE Ambassador to Armenia Nariman Mohammed Sharif AlMulla and Mohammed Al Shehi, the coordinator of the projects implemented by the Masdar company in Armenia.
According to the press service of the Ministry of Economy, following the meeting, an agreement was reached on further deepening cooperation in the field of solar energy production.
The source noted that at the end of 2023, trade turnover between the countries reached $2.8 billion. As a result, the UAE took second position in the list of Armenia's main trading partners. The Ministry of Economy also reported that by October 2023, the flow of investments from the UAE amounted to about 135,235.1 million drams, of which 105,192.0 million drams came from the flow of direct investments.
"Business and interstate cooperation between Armenia and the United Arab Emirates continues to expand," the message says.
On November 26, 2021, following the results of the competition, the Armenian government signed an agreement with the Masdar company on the construction of a photovoltaic power plant in the Talin area with a capacity of 200 MW in the country.
Earlier, in July of this year. Masdar was recognized as the winner of the tender for the projects for the construction of this photovoltaic industrial station.
According to the competitive proposal, the company offered a fairly low tariff for the future solar generation facility - $0.0290 excluding VAT for 1 kW/h of electricity. $200 million was allocated for the construction of the Aig-1 station, operation is planned for 2025.
The beneficiary of 85% of the shares was Masdar, and 15% of the shares belonged to the ANIF State Interest Fund.
Masdar is a subsidiary of Mubadala Investment Company, UAE, with total assets of $220 billion and one of the world's leading renewable energy companies.
