Masdar and ANIF targets to install 500 MW renewable energy plants in Armenia
Post date: 16/07/2019 - 14:51
Abu Dhabi Future Energy Company (Masdar) and the Armenian National Interests Fund (ANIF) signed a memorandum of understanding (MoU) to explore collaboration in PV (200 MW), onshore wind power (200 MW), and floating solar power (100 MW). Armenia is already a significant producer of hydroelectric power, and »many of the country’s more than 200 rivers and lakes are suitable for floating solar power projects«, says Masdar. With wind speeds of 8.5 metres per second and above, much of Armenia is also ideal for wind farm development, while the country receives an estimated 1,720 kilowatt-hours (kWh) of solar energy per square meter, compared with an average of 1,000 kWh per square meter in Europe.
Armenia is a full member of the Abu Dhabi-headquartered International Renewable Energy Agency (IRENA) since 2010. The country targets to generate 26 percent of its domestic power needs from renewable energy sources by 2025.