Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has been awarded a 55 MWac solar project in Armenia.
The project will expand the company’s global footprint and will help Armenia to reduce greenhouse gas emissions, FRV reported.
The contract to build the photovoltaic (PV) plant at a site near Mets Masrik was awarded in a competitive tender by the Armenia Renewable Resources and Energy Efficiency Fund. Construction of the plant – known as Masrik 1 – will start in 2019.
Masrik 1 will cover an area of around 100 hectares and will generate enough energy to supply over 21 000 homes in Armenia.
It will start operating by the end of 2020.
GIG was formerly known as the Green Investment Bank, a government-owned investment vehicle established by the British government in 2012. It was sold to Macquarie in 2017 for £2.3 billion.