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According to Power Technology reports, the Armenian government has approved the construction of a 55MW Masrik-1 solar power plant
.
For this project, the government has awarded award letters
to a consortium consisting of Fotowatio Renewable Venture (FRV) and FSL Solar.
Masrik-1 is reportedly the country's first to bid for an independent power project (IPP).
In 2014, the Armenian government recognized the importance of utility-scale solar PV under the Expanded Renewable Energy Program Investment Program, which provided a $2 million project preparation grant
.
SREP and the Bank team support the Renewable Energy and Energy Efficiency Fund
.
This financing is based on the installation of a ground-based solar resource survey, identifying Masrik-1 as a candidate site for the first round of tenders, the initiation of a feasibility study, and an environmental and social impact assessment
.
SREP and the World Bank also provide collateral tools
to mitigate investment risks, attract international developers and increase competition.
Sylvie Bossoutrot, World Bank Country Manager for Armenia, said, "The Masrik-1 solar power plant is a pioneering project in Armenia and the South Caucasus, and an exciting opportunity
for the country to further develop its renewable energy potential.
In addition, the open and competitive bidding process conducted by the government sets an example
for future investments in the country.
”
The plant is expected to reduce nearly 1 million tonnes of carbon over 20 years and create short- and long-term jobs
in the region.
The project is also expected to improve the country's long-term energy security
by promoting the development of solar resources.
The country's dependence on imported natural gas will also decrease
.
SREP and the World Bank have also identified five other potential solar projects with a total capacity of 55MW in the region, which will be subject to a second round of bidding in the near future
:/, please indicate the source for reprinting)
According to Power Technology reports, the Armenian government has approved the construction of a 55MW Masrik-1 solar power plant
.
For this project, the government has awarded award letters
to a consortium consisting of Fotowatio Renewable Venture (FRV) and FSL Solar.
Masrik-1 is reportedly the country's first to bid for an independent power project (IPP).
In 2014, the Armenian government recognized the importance of utility-scale solar PV under the Expanded Renewable Energy Program Investment Program, which provided a $2 million project preparation grant
.
SREP and the Bank team support the Renewable Energy and Energy Efficiency Fund
.
This financing is based on the installation of a ground-based solar resource survey, identifying Masrik-1 as a candidate site for the first round of tenders, the initiation of a feasibility study, and an environmental and social impact assessment
.
SREP and the World Bank also provide collateral tools
to mitigate investment risks, attract international developers and increase competition.
Sylvie Bossoutrot, World Bank Country Manager for Armenia, said, "The Masrik-1 solar power plant is a pioneering project in Armenia and the South Caucasus, and an exciting opportunity
for the country to further develop its renewable energy potential.
In addition, the open and competitive bidding process conducted by the government sets an example
for future investments in the country.
”
The plant is expected to reduce nearly 1 million tonnes of carbon over 20 years and create short- and long-term jobs
in the region.
The project is also expected to improve the country's long-term energy security
by promoting the development of solar resources.
The country's dependence on imported natural gas will also decrease
.
SREP and the World Bank have also identified five other potential solar projects with a total capacity of 55MW in the region, which will be subject to a second round of bidding in the near future
:/, please indicate the source for reprinting)
/
