UAE's Ocean Holding to invest $100 mln in Armenia's energy sectorMarch 22, 2017 - 15:07 AMT PanARMENIAN.Net - A memorandum of understanding was signed between Armenia's ministry of energy infrastructures and natural resources and Ocean Holding LLC in Abu Dhabi, UAE on Wednesday, March 22. The cooperation will seek to develop the renewable energy sector in Armenia and provide Ocean Holding an opportunity to make investments in solar energy projects. Beginning this year, Ocean Holding intends to invest $100 million in solar photovoltaic power plants in Armenia and operate them using the most advanced technology currently available. The ministry, in turns, aims to create favorable conditions for Ocean Holding. The investments will be carried out in several phases. The deal was signed on the sidelines of the Armenia Investment Forum 2017 in Abu Dhabi, UAE, with Armenian president Serzh Sargsyan and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan also participating. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |