Masdar inks contract for 200-MW Armenian solar project

• Abu Dhabi's renewable resource business Masdar on Friday claimed it has actually authorized a contract with the government of Armenia to create the 200-MW Ayg-1 solar photovoltaic (PV) project.

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

Ayg-1, which will be the country's biggest solar plant, will certainly be created on a layout, money, build, have and also run (DFBOO) basis. Masdar will own 85% of the project firm, while the remaining 15% will be held by the Armenian National Interests Fund (ANIF).

The solar park will be built in between the Talin as well as Dashtadem communities on over 500 hectares (1,235 acres) of land inappropriate for farming usage.

The project supports Armenia's aim to increase the share of renewables in its power mix as well as reduced its dependence on imported oil and gas, while using its solar power possibility.