UAE Energy company to develop 400 MW photovoltaic projects in Armenia

• The primary venture being organized under the joint enhancement understanding (JDA) is a 200MW utility-scale sun oriented photovoltaic (PV) plant in the west Armenia.

Abu Dhabi-based Masdar, among the planet's driving renewable power supply organizations, along with a Mubadala company, has gone into a proper concurrence with the Armenian National Interests Fund (Anif), a state-possessed remote direct speculation vehicle, to make 400 MW sun based electricity extends in the prior Soviet republic in a venture of $300 million to $320 million.

The most important undertaking is arranged under the joint improvement understanding (JDA) is a 200MW utility-scale sunlight powered photovoltaic (PV) plant at the west of Armenia which will use forefront bifacial innovation to make power from both immediate and reflected daylight.

As Masdar CEO Mohamed Jameel Al Ramahi explained in the wake of marking the arrangement together with Anif CEO David Papazian in a personal ceremony held in Abu Dhabi, as a global renewable energy supply pioneer dynamic in excess of 25 countries, and with a developing nearness in Central Asia, Masdar has extensive participation with developing monetarily effective undertakings in the sun-powered, wind, waste to energy and practical land.

The event has been observed by Armenian President Armen Sarkissian, Suhail Al Mazrouei, the UAE Minister of Energy and Industry, and Khaldoon Al Mubarak, Chief Executive Officer of Mubadala Investment Company.