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Masdar has won 200 MW Utility Solar tender to build in Armenia.
The 200 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 US$174 million plant is span over 500 hectares and expected to create numerous jobs.
The tender was part of the Joint Development Agreement signed between Masdar and the Armenian National Interest Fund CJSC (ANIF) in November 2019, to develop renewable energy projects with a total capacity of 400 MW in Armenia.
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 ANIF holding 15 percent.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “By winning the tender for Armenia’s biggest utility-scale solar project, Masdar enters an exciting new phase in our collaboration with our partners at ANIF and with the Armenian government. This is a vital stage in Armenia’s clean energy journey. Low-cost solar energy will help power new industries, generate jobs and set the country on the path to a prosperous and truly sustainable future.”