FRV Activates Masrik-1, Armenia's Largest Solar Plant with 55 MWac Capacity
Key Insights
FRV has launched the Masrik-1 solar plant in Armenia, the country's largest with 55 MWac capacity, marking a milestone in regional renewable energy.
The project, developed with CMEC and backed by IFC and EBRD, will supply power to 21,000 households and cut 54,000 tons of CO₂ annually.
Masrik-1 strengthens Armenia's solar potential and FRV's global portfolio, now totaling nearly 3 GW across multiple countries.
The plant's PPA with Electrical Networks of Armenia ensures seamless grid integration, supporting the nation's energy transition goals.
The Spanish renewable energy firm Fotowatio Renewable Ventures (FRV) has commenced commercial operations at the Masrik-1 solar plant in Armenia, solidifying its position as the largest photovoltaic facility in the country with a capacity of 55 MWac (62 MWdc). Located on a 130-hectare site, the project was developed in collaboration with China Machinery Engineering Corporation (CMEC) and received financial backing from institutions including the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and Ameriabank. A power purchase agreement (PPA) with Electrical Networks of Armenia CJSC ensures the plant's direct connection to the national grid.
Masrik-1 is projected to supply electricity to over 21,000 Armenian households while reducing annual CO₂ emissions by more than 54,000 tons. This achievement underscores Armenia's growing role as a regional leader in solar energy adoption and highlights FRV's expanding global footprint, which now includes nearly 3 GW of operational renewable energy projects across Spain, the UK, Australia, and other key markets. The plant's commissioning aligns with Armenia's broader energy transition strategy, which aims to diversify its power mix and reduce reliance on fossil fuels.
FRV's CEO emphasized the project's dual impact: "Masrik-1 not only advances Armenia's renewable energy goals but also demonstrates the viability of large-scale solar investments in emerging markets." The project's success is expected to attract further international investment into Armenia's renewable sector, paving the way for additional solar and wind developments.