Masdar signs agreement to develop Armenia’s largest solar power plant

Armenia is wanting to boost the share of renewables in its power mix and also decrease its dependancy on imported oil and also gas.

Masdar, among the globe’s leading renewable resource firms and also a subsidiary of Mubadala Investment firm, introduced today it has actually authorized a contract with the Federal government of the Republic of Armenia to create a 200-megawatt (MW) solar photovoltaic or pv (PV) plant.

The Ayg-1 job will certainly be Armenia’s biggest utility-scale solar plant.

The Federal Government Assistance Arrangement (GSA) was authorized by Gnel Sanosyan, Priest of Territorial Management and also Facilities of the Republic of Armenia, and also Mohamed Jameel Al Ramahi, President of Masdar, at an event today in Yeravan, the country’s funding.

Gnel Sanosyan, the Minster of Territorial Management and also Facilities of the Republic of Armenia, commented: “The steady boost of sustainable resources in our nation’s power system is just one of the top priorities established by the Federal government of Armenia. We concern this collaboration with Masdar as a vital action in the direction of this objective, along with in the direction of recommending Armenia’s financial investment possibility. The Ayg-1 commercial 200 MW solar plant job is a turning point on this roadway. We anticipate the finalizing of this file to note the beginning of a productive and also long lasting collaboration on this and also for brand-new future jobs.”

The Ayg-1 job will certainly be established on a style, financing, construct, possess, and also run (DFBOO) basis and also the job firm will certainly be 85 percent had by Masdar, with the Armenian National Interests Fund, (ANIF, a federal government had financial investment car) holding 15 percent. In July, the Armenian Federal government introduced that Masdar was the winning prospective buyer for the job, having actually sent a toll of US$ 0.0290 per per kilowatt-hour (kWh) in an affordable procedure.

Ahlam Rashid Ahmed AlAbd AlSalami, Chargé d’Affaires of the Consular office of the UAE, claimed: “This arrangement will certainly enhance the currently effective connections that exist in between the United Arab Emirates and also the Republic of Armenia. The UAE and also Armenia are unified in our dedication to take favorable activity versus environment modification, while producing higher financial possibilities and also this job notes an essential phase in Armenia’s tidy power trip and also our wish for this job to act as an excellent success to draw in possibilities for Armenia from the UAE.”

David Papazian, President of ANIF, claimed: “We rejoice to invite Masdar right into Armenia’s trip in the direction of the decarbonisation of the nation’s power supply. Ayg-1 is an enthusiastic action in the direction of the gratification of this objective, and also Masdar’s know-how and also experience in the area is crucial to the success of the job. Ayg-1 is readied to come to be an extremely noticeable financial investment job, profiting the nation, its residents and also capitalists, while devoting to greatest sustainability criteria in the market.”

Mohamed Jameel Al Ramahi, ceo of Masdar, claimed: “This arrangement notes a turning point on Armenia’s tidy power trip, and also the advancement of this job will certainly sustain the country’s lasting financial advancement. We expect dealing with the Armenian National Interests Fund on additional possibilities in this area, and also leveraging the experience we have actually gotten as a worldwide leader in renewable resource jobs to sustain the diversity of Armenia’s power mix. “

The Ayg-1 plant will certainly lie in between the Talin and also Dashtadem areas of Armenia, in a location where solar radiation is high and also land is pointless for farming objectives. The plant will certainly cover over 500 hectares, and also will certainly produce various straight and also indirect work.

Armenia is wanting to boost the share of renewables in its power mix and also decrease its dependancy on imported oil and also gas. The nation likewise has substantial solar power possibility, with a typical yearly solar power circulation per square meter of straight surface area of around 1,720 kWh, compared to the ordinary European number of 1,000 kWh. — Wam

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