Fotowatio Renewable Ventures (FRV), part of Jameel Energy, has commissioned Masrik-1, the largest photovoltaic power plant in Armenia, the company said on Tuesday.
Located in the Gegharkunik region, the Masrik-1 solar facility has a capacity of 62 megawatts direct current (MWdc), or 55 megawatts alternating current (MWac). It is expected to supply electricity to more than 21,400 households annually and reduce carbon dioxide emissions by over 54,000 tonnes per year.
“The commissioning of the Masrik-1 plant reinforces our position as a leader in renewable energy and highlights the essential role FRV plays in the decarbonisation of the global energy sector,” said Tristán Higuero, FRV’s chief business development officer. “Armenia has huge potential in renewable energy and we are proud to contribute to its energy development and a more sustainable future.”
The project was developed in partnership with China Machinery Engineering Corporation (CMEC) and financed by the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the European Union, and Armenia’s Ameriabank.
Electricity generated from Masrik-1 will be supplied to the national grid under a power purchase agreement with Electrical Networks of Armenia CJSC (ENA). The project marks FRV’s first photovoltaic development in the country.
