UAE-based Masdar Company set to launch first renewable energy project in Armenia

President Armen Sarkissian received representatives of the UAE-based Masdar Company Mohammed al-Shehhi and Manager at the Bids Department Vipul Goyal.

Masdar starts the first investment program in the field of renewable energy in Armenia, which will be launched in the near future within the framework of “AYG-1” solar photovoltaic program.

An agreement on the implementation of investment programs in Armenia by Masdar, one of the world leaders in the field of renewable energy, was reached during the official visit of the President of the Republic of Armenia Armen Sarkissian to the United Arab Emirates.

A joint development agreement was signed in 2019 in Abu Dhabi between the State Interests Fund of Armenia and Masdar Company on the implementation of projects with a total capacity of 400 MW in the field of renewable energy in Armenia.

During the meeting with the representatives of Masdar company, President Sarkissian hailed the fact that high-level agreements reached during the visits to the United Arab Emirates are being implemented.

“We expect investments and new cooperation programs in other spheres – technology, agriculture, logistics. Our countries have a great potential for cooperation,” said President Sarkissian.

Source: Public Radio of Armenia