A new market for utility-scale solar is opening up in Armenia with a successful round of bidding that led to an award for the 55-MW Masrik-1 solar plant.
According to World Bank, the Armenian government issued a letter of award to a consortium of Fotowatio Renewable Venture B.V.(FRV) and FSL Solar for the project, the first competitively tendered independent power project in Armenia.
World Bank said that Armenia identified utility-scale solar PV as a priority under the Scaling-up Renewable Energy Program Investment Plan (SREP), which provided a US$2 million Project Preparation Grant. SREP and World Bank supported the Renewable Resources and Energy Efficiency Fund with installation of ground-based solar resource measurements; identification of Masrik-1 as the candidate site for the first round of tender; and commissioning of feasibility studies and environmental and social impact assessments.
“The Masrik-1 solar power plant is a pioneering project for Armenia, as well as for the South Caucasus region, and an exciting opportunity for the country to further develop its renewable energy potential,” Sylvie Bossoutrot, World Bank Country Manager for Armenia, said in a statement.
Another five potential solar projects, with a total capacity of about 55 MW, already identified and prepared with support from SREP and the World Bank, are expected to be launched in a second round of competitive bidding in the near future, World Bank said.