May 15 (Renewables Now) - The government of Armenia has issued a letter of award (LoA) to Spain’s Fotowatio Renewable Venture (FRV) and its unit FSL Solar for the construction of a 55-MW solar park.
The move was announced on Friday by the World Bank, which has been supporting the development. The so-called Masrik-1 project was won by the FRV-led consortium following a competitive tender in which it offered the lowest tariff of USD 0.0419 (EUR 0.035) per kWh among five pre-qualified bidders.
To be constructed near the village of Masrik, Gegharkunik province, the Masrik-1 solar park will be the nation's first large photovoltaic (PV) complex. Construction is expected to start later this year and be completed by 2020.
Once operational, the solar plant will help offset about one million tonnes of carbon dioxide (CO2) emissions during its 20-year lifespan. The project was developed as part of a government investment strategy for the addition of up to 110 MW of PV capacity at six locations across Armenia. The country has already identified five additional projects totalling 55 MW and intends to hold tenders for their construction in the near future, the World Bank said.
(USD 1.0 = EUR 0.837)