Armenia’s Ministry of Energy Infrastructure and Natural Resources has announced that 20 unspecified companies and one consortium have submitted project proposals for the 55 MW solar power tender issued in early May.

The country’s Minister of Energy Hayk Harutyunyan said that pre-qualified developers are based in in China, U.S., Germany, Spain, South Korea, Iran and other unnamed countries. All of these company will now have to submit their final offers. State-owned press agency Arka previously reported that 40 developers had expressed interest in the project.

“Preference will be given to the company that presents the lowest and most competitive price proposal,” Harutyunyan said.

The tender process is scheduled to be concluded by the end of 2018, while construction on the plant is planned to begin in 2019.

The tendered 55 MW solar park will be located in Masrik, Gegharkunik province, eastern Armenia, and will require an investment of between $40 million and $60 million. Deputy Minister Hayk Harutyunyan specified that the installation could be expanded to 100 MW at a later stage, depending on the investor’s interest.

The project is part of the national plan for the development of renewable energies and is one of six PV plants with a combined capacity of 110 MW that the government is currently supporting through a recently created ad hoc commission.

The $58 million scheme is being supported by the Climate Investment Funds, the Armenian Ministry of Energy and Natural Resources, the World Bank, and the Asian Development Bank.