• Masdar and ANIF have signed a JDA to co-develop 400 MW solar power capacity in Armenia
  • It will comprise of a 200 MW utility scale project for which bifacial solar PV panels will be used
  • Development of the 400 MW capacity is expected to lead to an investment of $300 million to $320 million

Armenia is planned to host a 200 MW utility scale solar PV plant with bifacial solar panels out of 400 MW capacity that Abu Dhabi clean energy company Masdar is planning to build in the country under a formal joint development agreement (JDA) with the Armenian National Interests Fund (ANIF).

This update comes after the two entities signed a memorandum of understanding (MoU) in July 2019 to explore collaboration opportunities for renewable energy projects, including floating solar. Back then the plan was to develop 200 MW of solar, 200 MW onshore wind and 100 MW floating solar (see Masdar Heads To Armenia For Wind/Solar Opportunities).

Out of the 400 MW PV capacity the two partners plan to develop in the country under the arrangement, the 200 MW bifacial solar plant is the only project that has been identified, but its location or installation timeline has not been shared. The cumulative capacity will be built for investment ranging between $300 million to $320 million.

“Masdar and ANIF are making good on their promise to deliver industrial-scale renewable energy projects in Armenia,” said ANIF CEO David Papazian. “Our two teams have gelled as a single unit over the past few months, and I am happy to report that we have sent a highly competitive written proposal to the Government of Armenia which outlines the details of the 400 MW of solar PV that we are jointly proposing.”

Currently, Armenia’s installed energy mix comprises 2.8 GW of nuclear, hydro and thermal power generation from imported natural gas. ANIF shares there are several small and mid-size solar PV plants with a combined operational capacity 50 MW, while 250 MW capacity is licensed for construction and a total of 700 MW planned.

Armenia is working on developing a competitive procurement process for solar PV technology with help from the European Bank for Reconstruction and Development (see Consultant Sought For 150 MW Solar Projects In Armenia).