On November 26, an unconditional, irrevocable and on-demand Performance Bank Guarantee is submitted by the developer of Ayg-1 project, Masdar, in accordance with the Government Support Agreement signed between the Government of Armenia and Masdar on the same day.

The Performance Bank Guarantee is for a sum equal to USD 15,500,000 and is submitted to the Ministry of Territorial Administration and Infrastructure as a commitment to fulfill its obligations under the GSA.
 
The Performance Bank Guarantee is in force and effect for a period of 36 months from the signing date and shall be extended from time to time, at least 30 days prior to the expiry, to be valid till 3 months after the commercial operation date of the Ayg-1 plant.