Armenian government extends construction period of Aig-1 solar power plant
Territorial Administration Minister Suren Papikyan said the tender for the construction of the solar power plant was won by the Abu Dhabi-based clean energy group Masdar that will invest $300 million in the development of renewable energy in Armenia.
According to him, Masdar offered a rather low tariff of 2.99 cents per 1 kWh.
In 2019 December the Abu Dhabi-based clean energy group Masdar entered into a formal agreement with the Armenian National Interests Fund (ANIF) to develop 400 MW of PV capacity in Armenia, with a projected investment of up to $320 million.
The first part of the deal involves the construction of a 200 MW solar plant in Talin and Dashtashen communities of western Aragatsotn province, using bifacial technology. However, the broader agreement also includes the development, construction, operation and maintenance of ground-mounted PV installations, floating solar arrays, and wind farms, according to ANIF.
According to the established deadlines, construction will begin 1.5 years after the complete review of financial proposals, during which all paperwork is to be completed. Construction is scheduled to end in 2025.
The agreement on the construction of solar plant was reached during Armenian President Armen Sarkissian's visit to Abu Dhabi late last year. In the framework of the visit President Sarkissian visited also the Masdar company in Abu Dhabi and Masdar City innovative city.
Masdar Clean Energy is a leading developer and operator of utility-scale renewable energy projects, community grid projects, and energy services consultancy. It is present in UAE, Jordan, Mauritania, Egypt, Morocco, UK, Serbia and Spain.
Armenian National Interests Fund (ANIF) is a foreign direct investment fund operating under the Government of Armenia to co-invest alongside top global investors and industrial partners in large-scale projects in Armenia. Its mandate is to be a proactive investor and partner in the region in order to generate and facilitate investments in crucial sectors of the economy and infrastructure. -0-
