As stated by the EBRD, the project consists of a secured limited recourse project finance facility to the Client in the amount of up to USD 41mm coupled with a concessional loan to the Client of up to USD 6mm by Clean Technology Fund to finance the development, design, construction and operation of a 200MWac solar photovoltaic power plant located in towns of Talin and Dashtadem of the Aragatsotn Region in the west of Armenia. The Borrower is a limited liability company incorporated in Armenia and 85% owned by Abu Dhabi Future Energy Company PJSC - Masdar.
The Project will contribute to the strategic priority of the Government of Armenia to increase the share of renewable projects in the national energy mix and decrease its reliance on the fossil-fueled generation. It will contribute to the mitigation of climate impact by adding 200 MWac of solar generation capacity to the national energy system corresponding to expected reduction of CO2 emissions by up to 169,000 tonnes per annum.
The area of land required for the solar photo-voltaic (PV) site is 525ha which is located in modified habitat on low quality agricultural land in Talin community. The short (c.300m) new overhead line will connect to an existing sub-station line passing through adjacent to the site.
As stated by Bloomberg, Masdar Abu Dhabi Future Energy Company provides renewable energy solutions. The Company offers clean energy development, sustainable procurement, and supply chain consultancy services. Masdar Abu Dhabi Future Energy serves customers worldwide.
The Borrower is a limited liability company incorporated in Armenia and 85% owned by Abu Dhabi Future Energy Company PJSC - Masdar.
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Parent Company - Abu Dhabi Future Energy Company PJSC (Masdar):
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