Masdar inks agreement for 200-MW Armenian solar project

• Abu Dhabi's renewable resource company Masdar on Friday claimed it has authorized an agreement with the federal government of Armenia to create the 200-MW Ayg-1 solar photovoltaic or pv (PV) project.

The finalizing of the federal government assistance agreement (GSA) in Yeravan today comes after in July Masdar won a tender for the project with a quote of USD 0.0290 (EUR 0.026) per kWh.

Ayg-1, which will certainly be the nation's largest solar plant, will be established on a layout, financing, construct, have and operate (DFBOO) basis. Masdar will have 85% of the project firm, while the continuing to be 15% will certainly be held by the Armenian National Interests Fund (ANIF).

The solar park will certainly be built in between the Talin and also Dashtadem communities on over 500 hectares (1,235 acres) of land unsuitable for agricultural use.

The project sustains Armenia's purpose to boost the share of renewables in its power mix as well as reduced its dependence on imported oil and also gas, while taking advantage of its solar energy potential.