Abu Dhabi’s renewable energy company Masdar has signed an agreement with the Government of Armenia for the development of the 200 MW Ayg-1 solar photovoltaic project.
The Armenian government awarded Masdar the development of the project after the concluded tender launched in July 2021 for an offer of US$0.029 per kWh. Masdar will develop the project on a design, finance, build, own and operate (DFBOO) basis.
The solar farm will be located in the communities of Talin and Dashtadem in Aragatsotn. Masdar will own 85% of the project while the remaining 15% will be owned by the Armenian National Interests Fund (ANIF).
Country updates
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July 12, 2021
Masdar wins tender for 200 MW Solar PPP project in Armenia
The Government of Armenia has officially selected Masdar, one of the world’s leading renewable energy companies, as the winning bidder for the tender for a 200 MW utility-scale solar project.
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March 31, 2021
FRV reaches financial close on 55 MW Masrik-1 solar project in Gegharkunik
Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy has closed the financing agreement for the development of the largest utility-scale solar power plant located in Mets Masrik munic...
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July 17, 2020
FRV secures financing from EU, IFC and EBRD for the 55 MW Masrik-1 solar project in Gegharkunik
International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and the European Union (EU) have signed on to support the development of the 55 MW Masrik-1 solar...
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June 05, 2020
RFQ launched for solar power plant in Aragatsotn marz
The Government of the Republic of Armenia has launched a request for qualifications (RFQ) seeking private investors to develop a grid-connected 200 MW solar PV power plant located betwe...
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December 11, 2019
Masdar, ANIF join hands to pursue 400 MW of solar power projects in Armenia
Abu Dhabi Future Energy Company, better known as Masdar, has signed a joint development agreement (JDA) with the Armenian National Interests Fund (ANIF) to develop solar power projects with a tot...
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