Mubadala Investment Company considering large-scale investments in Armenian economy
YEREVAN, January 18. /ARKA/. Armenian President Armen Sarkissian, who is on a working visit to the United Arab Emirates, met on Monday with Kaldun Khalifa Al Mubarak, the Executive Director of the Mubadala Investment Company, Sarkissian’s press service reported.
Mubadala Investment is a large investment company that manages a diversified portfolio of investments and assets in the UAE and abroad. The company operates and invests in such areas as high technology, telecommunications, energy, healthcare, real estate, infrastructure, education and science and is represented in more than 50 countries around the world.
Mubadala's assets under management are estimated at $243 billion. The company is headquartered in Abu Dhabi. Mubadala also has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
Sarkissian was said to thank Masdar, a subsidiary of the Mubadala Investment Company, for carrying out renewable energy projects in Armenia with a total capacity of 400 MW. The President highly appreciated the effective cooperation between the Masdar Company and Armenia’s National Interest Fund (ANIF) in the implementation of the Aig-1 solar power plant project.
The possibilities of making large-scale investments in the field of alternative energy and other industries were discussed during the meeting. Sarkissian noted that Armenia is interested in the presence of Emirati companies in other areas of the country's economy and is ready for long-term cooperation.
Under an agreement signed last November by Armenia and UAE-based Masdar Company, the governmental of Armenia will show support for the company in construction of Aig-1 photovoltaic power plant with 200 megawatt capacity in Armenia.
Masdar won earlier the tender for the construction of the solar power plant pledging to invest $320 million in the development of renewable energy in Armenia. 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 capacities in Armenia, with a projected investment of up to $320 million.
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. -0-
