Fotowatio wins Armenia’s 50 MW solar tender

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Armenia’s Ministry of Energy Infrastructure and Natural Resources announced that Spanish solar project developer, Fotowatio Renewable Ventures (FRV), part of UAE-based Abdul Latif Jameel Energy, was awarded the contract to build the 55 MW Masrik-1 solar project through the tender it issued in May.

The Spanish company and its unit SFL Solar have offered to sell power to the local grid at a bidding price of 20.11 AMD ($0.046)/kWh. The Armenian government stressed that this price is quite a bit lower than the average price of 23.8 AMD, at which hydropower and gas power plants usually sell electricity.

In mid-July, the ministry shortlisted 10 companies for the final phase of the tender: The winning Fotowatio-led consortium; China-based developer, TBEA Xinjiang Sunoasis Co.; a consortium formed by Netherlands-based Subsolar Energy Holding LLC and South Africa’s Phelan Energy Group; an Indian-Korean venture consisting of Korea Electric Power Corporation and Shapoorji Pallonji Infrastructure Capital Company Private Limited; the Chinese solar module maker, Risen Energy Co. Limited; a Middle Eastern consortium led by UAE Access Infra Central Asia Limited; French renewable company, Eren Renewable Energy S.A.; an Italian-Spanish consortium comprised of Acciona and Building Energy; an international consortium led by Sky Power Global; and German developer, Enerparc Projects GmbH.

In the first phase of the competition, project proposals were submitted by 20 developers.

The tendered 55 MW solar park will be located in Masrik, Gegharkunik province, eastern Armenia, and will require an investment of around €50 million, the Armenian government said. The facility must start generating power by the end of 2020.

On the top of the support it is providing for big solar parks, the Armenian government is also providing incentives for PV projects up to 1 MW.

As of mid-December, the government had issued 11 licenses totaling 10 MW under a special tariff regime introduced by the Armenia Public Services Regulatory Committee (PSRC) in December 2016, which supports projects between 150 kW and 1 MW in size.