Masdar (Abu Dhabi Future Energy Company), UAE announced in a statement that it has won a tender to build a 200MW utility-scale solar project in Armenia.
The value of the project is $174 million.
The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in December 2019. After a competitive process, Masdar submitted a final price of $0,0290/kWh.
The 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 project will be developed on a design, finance, build, own, and operate (DFBOO) basis.
The plant will span over 500 hectares, and will create numerous direct and indirect jobs.
The tender was part of the Joint Development Agreement signed between Masdar and ANIF in November 2019, to develop renewable energy projects with a total capacity of 400 MW in Armenia. Further discussions are underway on the development of the remaining 200 MW, statement said.
The project company will be 85 percent owned by Masdar, with the Armenian National Interest Fund CJSC (ANIF) holding 15 percent.
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