FRV puts into operation the Masrik-1 55MWac photovoltaic plant, the largest in Armenia

• The Masrik-1 plant, with a capacity of 62 MWdc (55 MWac) will avoid the emission of over 54,000 tons of CO2 annually and supply electricity to more than 21,400 households in Armenia.
• The project was financed by International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), the European Union, and Ameriabank, and constructed by China Machinery Engineering Corporation (CMEC).
• The generated energy will be distributed through the national grid, under a power purchase agreement (PPA) with Electrical Networks of Armenia CJSC (ENA).

Madrid, Spain, 24^th June May, 2025

Fotowatio Renewable Ventures (FRV), a leading developer of sustainable energy solutions, and part of Jameel Energy, has announced the commissioning of the Masrik-1 photovoltaic plant in Armenia. This 62 MWdc (55 MWac) facility represents a significant step in FRV’s ongoing commitment to fostering the global transition towards clean and sustainable energy sources.

Located on a 130-hectare site, the Masrik-1 plant will avoid the emission of more than 54,000 tons of CO₂ annually and will supply electricity to over 21,400 Armenian households. The project not only contributes to the decarbonization of the country’s energy system but also reaffirms FRV’s commitment to global sustainable development.

The plant’s construction was carried out by China Machinery Engineering Corporation (CMEC), working closely with key Ministries and Agencies of the Republic of Armenia. The project has been financed with the support of key financial institutions including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the European Union, and Ameriabank.

The power purchase agreement (PPA) has been signed with Electrical Networks of Armenia CJSC (ENA), ensuring that the energy produced will be distributed through the national grid, further advancing the region’s transition towards a more sustainable and efficient energy system.

With this latest achievement, FRV continues to expand its international presence, which now includes almost 3 GW renewable energy facilities under operation in countries such as Spain, United Kingdom, Australia, New Zealand, Jordan, Mexico, and now Armenia, reaffirming its commitment to driving projects that not only provide clean energy but also create a positive impact in local communities.