{"id":7311,"date":"2018-08-09T07:22:17","date_gmt":"2018-08-09T07:22:17","guid":{"rendered":"https:\/\/cms.alj3.clients.lemonhq.io\/quick-reads\/frv-makes-renewable-energy-history-armenia\/"},"modified":"2025-12-09T08:39:31","modified_gmt":"2025-12-09T08:39:31","slug":"frv-makes-renewable-energy-history-armenia","status":"publish","type":"quickreads","link":"https:\/\/cms.alj3.clients.lemonhq.io\/en\/quick-reads\/frv-makes-renewable-energy-history-armenia\/","title":{"rendered":"FRV makes renewable energy history in Armenia"},"content":{"rendered":"\n<p>Fotowatio Renewable Ventures (<a href=\"http:\/\/www.frv.com\">FRV<\/a>), part of <a href=\"https:\/\/media.alj.com\/en\/energy-and-environmental-services\/energy-overview\/\">Abdul Latif Jameel Energy<\/a>, has made history by securing the contract to build and operate one of the first large-scale solar power plants in Armenia.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft\"><img decoding=\"async\" src=\"https:\/\/media.alj3.clients.lemonhq.io\/wp-content\/uploads\/2024\/10\/FRV-and-Armenia-Primeminister-300x200.jpg\" alt=\"\" class=\"wp-image-15460\"\/><\/figure>\n<\/div>\n\n\n<p>The deal &#8211; awarded the competitive tender by the Armenia Renewable Resources and Energy Efficiency Fund (<a href=\"http:\/\/r2e2.am\/en\/\">R2E2<\/a>) &#8211; has also generated praise from the World Bank, will see a consortium led by FRV deliver the \u2018Masrik-1\u2019 55 MW solar power plant at a tariff of US$ 0.0419\/kWh.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright\"><img decoding=\"async\" src=\"https:\/\/media.alj3.clients.lemonhq.io\/wp-content\/uploads\/2024\/10\/Armenia-map-293x300.png\" alt=\"\" class=\"wp-image-15461\"\/><\/figure>\n<\/div>\n\n\n<p>The plant, which is located near Mets Masrik and Vardenis in the Gegharkunik Province of Armenia and covers a land area of approximately 100 hectares &#8211; the size of 150 soccer fields combined &#8211; will begin construction in early 2019 and be operational towards the end of 2020. <\/p>\n\n\n\n<p>Around 300 local jobs will be created as part of the construction phase and during its 20-year lifetime, Masrik-1 will offset one million tons of carbon dioxide and create short- and long-term jobs.<\/p>\n\n\n\n<p>Sylvie Bossoutrot, World Bank Country Manager for Armenia, said: <em>\u201cThe Masrik-1 solar power plant is a pioneering project for Armenia, as well as for the South Caucasus region, and an exciting opportunity for the country to further develop its renewable energy potential.\u201d<\/em><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft\"><img decoding=\"async\" src=\"https:\/\/media.alj3.clients.lemonhq.io\/wp-content\/uploads\/2024\/10\/Roberto-180x300.jpg\" alt=\"\" class=\"wp-image-15463\"\/><\/figure>\n<\/div>\n\n\n<p>Roberto de Diego Arozamena, Chief Executive Officer of Abdul Latif Jameel Energy, said:<\/p>\n\n\n\n<p><em>\u201cArmenia\u2019s growing focus on renewable energy presents numerous opportunities for Abdul Latif Jameel Energy. It further expands our global footprint, and shows that more and more countries around the world are rightly focusing on clean energy. <\/em><\/p>\n\n\n\n<p><em>&nbsp;<\/em><em>\u201cWith countries such as Saudi Arabia putting in place initiatives such as the National Renewable Energy Program, under which the country plans to build a solar project that can supply 9.5 gigawatts of energy, there remains huge potential in renewable energy globally.\u201d&nbsp; <\/em><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-vimeo wp-block-embed-vimeo wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">https:\/\/vimeo.com\/277237218\/8ce3cd8874<\/div><\/figure>\n\n\n<p>This year alone Abdul Latif Jameel Energy has announced it has been awarded a <a href=\"https:\/\/media.alj.com\/ar\/openingdoors\/en\/issue\/winter-2017\/frv-secures-hybrid-energy-contract-chile\/\">540 GWh hybrid solar-wind project in Chile<\/a>; secured financing for a <a href=\"https:\/\/media.alj.com\/ar\/openingdoors\/en\/issue\/winter-2017\/abdul-latif-jameel-energy-secures-financing-mexican-solar-farm-will-power-150000-homes\/\">Mexican<\/a> solar farm that will power 150,000 homes; and announced it is supporting the launch of <a href=\"https:\/\/media.alj.com\/ar\/openingdoors\/en\/issue\/spring-2018\/frv-backs-first-jordanian-nanosatellite\/\">Jordan\u2019s first nanosatellite<\/a>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/media.alj3.clients.lemonhq.io\/wp-content\/uploads\/2024\/10\/Armenia-signing-ceremony-300x200.jpg\" alt=\"\" class=\"wp-image-15462\"\/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p>Left to right: Tristan Higuero COO East, FRV; Nicolas Fasquelle, Managing Director, Middle East &amp; Africa, FRV; Hayk Harutyunyan, Deputy Minister, Ministry of Energy and Natural Resources; Prime Minister Karen Karapetyan; Ruben Gevorgyan, Director, Armenia Renewable Resources and Energy Efficiency (R2E2) Fund.<\/p>\n","protected":false},"featured_media":7317,"menu_order":0,"template":"","class_list":["post-7311","quickreads","type-quickreads","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FRV makes renewable energy history in Armenia - Abdul Latif Jameel<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRV makes renewable energy history in Armenia - Abdul Latif Jameel\" \/>\n<meta property=\"og:description\" content=\"Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has made history by securing the contract to build and operate one of the first large-scale solar power plants in Armenia. 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