The UAE-government owned renewable energy company Masdar will implement another 200 MW solar project in Armenia. The agreement was reached during the meeting of Armenian President Armen Sarkissian and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
The perspectives of developing cooperation in the fields of renewable energy, latest technologies, science and education were discussed at the meeting.
Stressing that the investment program for the construction of a 200-megawatt photovoltaic power plant in the field of renewable energy in Armenia is the first step of mutually beneficial cooperation with Masdar, President Sarkissian hailed the agreement reached today on another 200 megawatt capacity.
The President noted that the implementation of projects in the field of renewable energy in Armenia with a total capacity of 400 MW creates a good basis for wider cooperation, and is an important step towards the diversification of the country’s energy system. “I expect that this program will create a basis for long-term cooperation,” he said.
President Sargsyan also commended the effective cooperation between Masdar Company and the State Interest Fund of Armenia on the implementation of the “Ayg-1” program.
The interlocutors also spoke about the opportunities for large-scale investments in the field of wind energy in Armenia.
In November 2021, Masdar signed an agreement with the Government of the Republic of Armenia to develop a 200-megawatt (MW) solar photovoltaic (PV) plant. The Ayg-1 project will be Armenia’s largest utility-scale solar plant.