FRV reaches financial close with IFC, EBRD, and Ameriabank for the largest Utility Scale Solar Power Plant in Armenia

55 MW Masrik-1 Solar Farm will produce enough clean energy to supply more than 20,000 homes and avoid the emission of over 40,000 tons of CO2 annually.

The project signed a Power Purchase Agreement (PPA) with Electric Networks of Armenia which will distribute the electricity produced by the plant delivering significant benefits to the community.

IFC and EBRD support the project with senior loans and an investment grant from the European Union, mobilised by EBRD.

Ameriabank supports the project with tailored VAT financing loan facility.

This is currently the largest utility-scale solar power plant in Armenia.

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