Masdar plans to build a solar power plant in Armenia

One of the world’s leading players in the field of renewable energy, the Emirati company Masdar, successfully operates in almost three dozen countries.

The leader, successfully operating in the solar energy market of the Republic of Uzbekistan, is now entering the territory of Armenia.

The company won a tender for the construction of solar power plants in Armenia and is going to build the first facility here, with a capacity of about 200 MW. The planned cost of the generated electricity is within 3 US cents per kilowatt.

The industrial solar station will be located on an area of ‚Äč‚Äčabout 500 hectares in a region with a high level of radiation activity, where the land is not suitable for agricultural use.

The project for the construction of the station will be fully developed by Masdar itself with 85% ownership in the future. The remaining 15% will belong to ANIF, that is, the State Interests Fund of Armenia.

According to the information portal RenEn, more than 170 million US dollars were invested in the construction of the station. It is the largest foreign investment in green energy in Armenia, as well as the second largest in the country’s economy.