World
Posted: 4 months ago

Armenia to Build its Largest Solar Power Plant

Abu-Dhabi-based renewable energy company Masdar has been selected by the government of Armenia as the winning bidder to build the country’s biggest utility-scale solar project.

An estimated $174 million (£126.1m) will be invested in the 200MW plant that will span more than 500 hectares.

According to the government, Masdar was “the initiator of the investment project." Following Masdar's offer, the government announced an international tender for a large-scale solar power plant in 2019. Masdar was given the opportunity to beat the lowest tariff proposed by any other company.

Masdar’s original bid of $0.0299 per kilowatt-hour, however, was turned down by the government for being too high. Masdar then lowered the price, offering to build the 200-megawatt plant for $0.0290 per kilowatt-hour.