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 | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |