Large-scale renewable energy projects and investments
Some practical agreements crowned the working visit of the President of the Republic Armen Sarkissian to the United Arab Emirates. We are talking, in particular, about deepening cooperation in the field of renewable energy.
Masdar, based in the Emirates and one of the world leaders in the field of renewable energy, has already started implementing the Ayg-1 investment project of building a 200 megawatt photovoltaic power plant in Armenia. The President of the Republic Armen Sarkissian had signed the agreement on implementing this project during his visit to the United Arab Emirates in 2019. Even at that time, Armen Sarkissian noted that this project was only the beginning of a long journey; it is possible to do much more together.
During his recent working visit to the UAE, the President of Armenia met with the Chief Executive Officer of Masdar Mohammed Jameel Al Ramahi and reached an agreement on the construction of another solar photovoltaic station of 200 megawatts in Armenia.
The projects for solar power plants with a total capacity of 400 megawatts in Armenia imply large-scale investments. They are also of strategic importance
in terms of increasing the level of security and independence of the country's energy system, as well as in terms of diversifying energy resources. This project will also contribute to making Armenia greener.
During his visit to the UAE, the President also discussed the possibilities of implementing investment projects in the field of wind energy with the Executive Director of the Mubadala Investment Company Khaldoon Khalifa Al Mubarak.
In particular, they discussed the possible construction of a wind farm with an extra capacity of 500 megawatts. President Sarkissian noted that Armenia has an immense potential of clean energy resources.
The agreement in the field of air traffic marked the working visit to the United Arab Emirates: Wizz Air Abu Dhabi will soon start operating direct flights to Yerevan.
In general, the working visit of the President of the Republic to the UAE has become another practical step towards strengthening relations and developing cooperation with the Arab world.