Masdar to build a US$174 million utility-scale solar project in Armenia

Abu Dhabi Future Energy Company, Masdar, won a tender to build a US$174 million, 200-megawatt (MW) plant, utility-scale solar project in Armenia.

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 company said in a statement.

"By winning the tender for Armenia’s biggest utility-scale solar project, Masdar enters an exciting new phase in our collaboration with our partners at ANIF and with the Armenian government. This is a vital stage in Armenia’s clean energy journey. Low-cost solar energy will help power new industries, generate jobs and set the country on the path to a prosperous and truly sustainable future," said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

The plant will span over 500 hectares.  I will be will be developed on a design, finance, build, own, and operate (DFBOO) basis and the project company will be 85 percent owned by Masdar, with the Armenian National Interest Fund CJSC (ANIF) holding 15 percent.

 After a competitive process, Masdar submitted a final price of $0,0290/kWh.