- Press Releases
July 5 (Renewables Now) - Abu Dhabi Future Energy Company PJSC, better known as Masdar, has been selected to build a 200-MW solar park in Armenia after placing the winning bid in a government tender.
Masdar has won the competition with a final bid of USD 0.0290 (EUR 0.0253) per kWh, the Abu Dhabi-based company said on Tuesday. It took part with an initial proposal standing at USD 0.0299/kWh, made in December 2019.
The project, which also involves the construction of a new substation, will be developed on a design, finance, build, own, and operate (DFBOO) basis and is budgeted at USD 174 million. Masdar will own 85% of the project vehicle, while the remaining 15% will be held by the Armenian National Interest Fund CJSC (ANIF).
To be installed in the Talin and Dashtadem communities, the photovoltaic (PV) farm will use an area of roughly 500 ha (1,235 acres) that is not suitable for agricultural development. It is set to become the largest utility-scale solar complex in the country.
In 2019, Masdar and ANIF entered a joint development agreement to add 400 MW of solar PV capacity in Armenia, half of which will come from the above-mentioned project. According to Masdar, talks are ongoing for the development of the other 200-MW portion.
(USD 1.0 = EUR 0.845)