Armenia to own 15% in Aig-1 project implemented jointly with Emirates’ MASDAR

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YEREVAN, November 5. /ARKA/. Fifteen percent of Aig-1 project, designed to build the largest solar power plant in Armenia is to be handed over to the Armenian government./pp

Aig-1 is a joint project with United Arab Emirates’ MASDAR./pp

The Armenian Ministry of Economy said this issue was discussed at a meeting between Deputy Minister Sevak Mikaelyan and UAE Ambassador to Armenia Nariman Mohammed Sharif Al Mulla and representatives of MASDAR./pp

The project was adopted by the Armenian government at the end of 2019. The agreement with MASDAR for the design, financing, construction, and operation of the station was signed in November 2021./pp

The olar power plant with an installed capacity of 200 MW is to be built on an area of 500 hectares in the communities of Talin and Dashdede in the Aragatsotn province of Armenia. The total investment cost of the program was estimated at $174 million./pp

Initially, 15% of the solar power plant were to be handed over to Armenian National Interest Fund (ANIF), established by the government in 2019 to attract foreign investments in partnership with the private sector. ANIF was liquidated in August 2024 due to a set of financial problems.br MASDAR, registered in the Emirates, is a subsidiary of the UAE sovereign wealth fund Mubadala Investment. -0-/pp nbsp;/p