Masdar to develop 400 MW of solar projects in Armenia

Masdar Clean Energy of the UAE has signed a Joint Development Agreement (JDA) with the Armenian National Interests Fund (ANIF) for the development of solar power projects with a total capacity of 400 MW in Armenia. Investment is about $300 million to $320 million. The first project is a 200 MW utility-scale PV plant in the west of Armenia that will use bifacial technology. Details were not disclosed.
Armenia has pledged to generate more than a quarter of its domestic power needs from renewable sources and hopes to cap its carbon emissions at 633 million metric tons of CO2 equivalent between 2015 and 2050.

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