Deputy Minister of Economy of Armenia, Sevak Mikaelyan, held talks with UAE Ambassador Nariman Mohammed Sharif Al Mulla and representatives of Masdar to discuss the implementation of a major solar energy project.
On November 4, a meeting in Yerevan focused on the legal aspects of transferring the Armenian government’s 15% stake in the project to Masdar. The project includes the construction of the industrial-scale "Ayg-1" solar photovoltaic plant.
This agreement is part of Masdar's investment program in Armenia aimed at advancing renewable energy on an industrial scale. The meeting marked a significant step toward implementing a project expected to make a substantial contribution to Armenia's energy sector.
Discussions centered on addressing legal issues related to the Armenian government’s share transfer, which is a key stage in launching the solar power project.
The need for discussions around the transfer arose following the recent dissolution of the Armenian National Interests Fund (ANIF). The construction of the solar power plant in partnership with Masdar was one of ANIF’s significant investments, though the project had not commenced within the planned timeline.
