Legal issues of transfer of Armenian government`s shares to Masdar  discussed 

ArmInfo. Deputy Minister of Economy of Armenia Sevak Mikaelyan received representatives of the  UAE company Masdar, which is building the Ayg-1 solar power station in Armenia. The meeting was also attended by the UAE Ambassador to Armenia Nariman Mohammed Sharif AlMulla.

The parties discussed the transfer of 15% of the government's shares  in the Ayg-1 project and, in this regard, the resolution of legal  issues.

Masdar (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), which won the tender for the  implementation of the program in July 2021, guaranteed a tariff of  $0.0290 excluding VAT per 1 kWh of electricity. On November 26, 2021,  following the results of the competition, the Armenian government  signed an agreement with Masdar on the construction of .  Masdar was to become the beneficiary of 85% of the shares, and 15% of  the shares were to be held by the State Interests Fund ANIF, which  has essentially already been liquidated.

The total investment cost of the program, as was then announced, will  be $ 174 million, this solar station will be the largest in Armenia.

According to the plan of the Armenian government, by 2030 the share  of renewable energy in the total energy supply is planned to be  increased to 15%, will provide half of this figure. As  previously announced, the operation of the station is scheduled for  2025.