WB: Launch of the first industrial-scale heliostation "Masrik-1" opens a new market for Armenia

ArmInfo. The launch of the first solar power plant of industrial importance "Masrik-1" opens a new market for Armenia. Due to this experience, perception of Armenia will be improved by the investors on the possibilities of solar energy industrial scale. This is stated in the message of the World Bank (WB), received in ArmInfo.

According to the report, Armenia for the first time in its history, gave the "green light" the first large-scale solar industrial plant. The government, represented by the Renewable Energy and Energy Conservation Foundation of Armenia issued a statement on the recognition of the winner in the tender for the construction of the first independent electricity on construction heliostation program "Masrik-1" capacity of 55 MW, a consortium of two leading international companies from the Netherlands Fotowatio Renewable Ventures BV and Spain FSL Solar SL Of the five applicants, the consortium offered the lowest tariff of 4.19 cents per 1 kWh. "Economically productive operation of the equipment in 20 years will save 1 million tonnes of CO2 and provide jobs in the short and long term", - said in a statement. In addition, according to the World Bank, the station "Masrik-1" in the long run will increase energy security by stimulating the development of solar energy resources and reduce dependence on imported natural gas.

As the head of the World Bank Yerevan Office Sylvie Bossoutrot stated, the solar power plant "Masrik-1" is the first program in Armenia, as well as in the South Caucasus region. "This is also an inspiring opportunity to further develop the potential of the renewable energy sector in the country." Moreover, the open and competitive procurement process conducted by the government is an example for future investments in the country, "she said.

It is reported that in 2014 the Armenian government announced the construction of a solar photovoltaic station of industrial scale as a priority in the framework of the investment plan "Expansion of Renewable Energy." Within the framework of this plan, $ 2 million of grant funds were allocated for the preparation of the program. The World Bank supported the Renewable Energy and Energy Saving Fund of Armenia in placing equipment for measuring solar energy resources, as well as in conducting a feasibility study of the project at the first stage of the Masrik-1 contest and conducting environmental and social assessments, and preparing the tender procurement process. The Renewable Energy and Energy Saving Fund of Armenia and the World Bank also made it possible to apply guarantee tools for mitigating investment risks, attracting international developers and increasing the level of competition.

The remaining five possible projects in the field of solar energy with a total capacity of about 55 MW, which have already been prepared with the support of the Fund and the World Bank, are scheduled to begin soon as a second phase of the program. At the second stage, as noted in the World Bank, it is planned to use the experience of "Masrik-1", which will reduce the cost of implementing the transaction, since there is already a contractual documentation. "Moreover, due to this experience, the perception of Armenia by investors regarding opportunities in the field of solar energy of industrial scale will be improved," the report says. The winner will be given six months to sign contracts for the financing of the project, after which two years - to build a power plant and power lines. The sale of the electricity produced by the station will be carried out within the framework of the purchase agreement with the company "Electric Networks of Armenia".

Earlier it was reported that the solar power plant "Masrik-1", which will be built in the community of Mets Masrik of Gegharkunik region of Armenia, will provide 2% of the total energy produced in the republic.  The construction program will start in early 2019 and will be completed by the end of the year. The total cost of the program for the construction of solar power plants in Armenia is $ 129 million.