Armenian Ambassador, Masdar CEO discuss investment programs in the field of renewable energy

On July 8, Armenia’s Ambassador to the United Arab Emirates Mher Mkrtumyan met with Masdar CEO Mohamed Jameel Al Ramahi, the Armenian Embassy in UAE informs.

Issues related to the further implementation of the company’s investment program in the field of renewable energy in Armenia were discussed.

Other possible cooperation programs were also touched upon.

The Government of Armenia has officially selected Masdar, one of the world’s leading renewable energy companies, as the winning bidder for the tender for a utility-scale solar project. 

The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in December 2019. After a competitive process, Masdar submitted a final price of $0,0290/kWh.

The 200-megawatt (MW) plant will be located in the Talin and Dashtadem communities of Armenia, in an area where solar radiation is both high and land is unusable for agricultural purposes.

The project will be developed on a design, finance, build, own, and operate (DFBOO) basis and the project company will be 85 percent owned by Masdar, with the Armenian National Interest Fund CJSC (ANIF) holding 15 percent. 

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