ArmInfo. The construction of an industrial-scale solar power plant, Mets Masrik, in Armenia is nearing completion. This was stated on February 28 from the rostrum of parliament by Chairman of the Public Services Regulatory Commission, Garegin Baghramyan, whose candidacy was again nominated by the RA government for the post of head of the PSRC.
Baghramyan emphasized that the construction of a s Mets Masrik olar power plant is carried out within the framework of a public-private partnership. A similar partnership mechanism is used major solar energy project - the Aig-1 power plant as well, which is to be built by the Masdar, UAE company. If in the first case the project is nearing completion, then in the second case it has not yet begun. Moreover, the consortium that is supposed to build Aig-1 has not yet even received a license to build the facility, the cost of which is estimated at $180 million and a design capacity of 200 MW. Some financial terms are currently being negotiated within the public-private partnership. Only after that, the investor should apply to the PSRC to obtain a construction license.
Baghramyan emphasized that in addition to the abovementioned facilities, solar power plants with a total installed capacity of 370 MW have already been built in the country. If the conditions of licenses issued to 43 persons are met, these volumes will increase by another 410 MW.
On July 19 last year, PSRC issued a license for the production of electricity from Mets Masrik. Fotowatio Renewable Ventures (FRV), a member of Abdul Latif Jameel and a leading global developer of renewable energy projects, together with IFC, EBRD and Ameribank, successfully completed a deal to finance the construction of the largest solar power plant, Masrik-1, with a capacity of 55 MW, which will generate more than 128 gigawatt-hours of electricity per year at a competitive rate of $41.9 per MWh to power more than 20,000 homes and avoid the emission of more than 40,000 tons of carbon per year. As part of the project, an electricity purchase agreement was signed with the Electric Networks of Armenia company, which will distribute the electricity produced. The International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) supported the project by providing priority loans and an investment grant, which the EBRD will attract from the EU. In turn, Ameriabank supports the project by providing financing to cover the company's VAT. The Masrik-1 solar power plant, located in the Mets Masrik community of Gegharkunik region and the first of its kind in Armenia, will help increase Armenia's supply of renewable energy while reducing its dependence on fossil fuels. According to experts, the construction of Masrik-1 will amount to 55 million euros, but nothing has been officially announced about the size of the investment.
