Bracewell had represented Fotowatio Renewable Ventures (FRV) as sponsors’ counsel in relation to the development of the first utility-scale solar plant in Armenia. 

Financing for the project is provided by International Finance Corporation (a member of the World Bank Group) and the European Bank for Reconstruction and Development. The project also benefits from an investment grant provided by the European Union.

The 55 MW power plant, located in the municipality of Mets Masrik in Gegharkunik province, will generate enough energy to power 21,400 homes and will reduce Armenia’s carbon emissions by 40,000 tonnes per year. The project marks a strategic shift away from imported fossil fuels and toward sustainable and low-cost renewable energy. It will provide a range of new jobs and is a landmark development for Armenia and the wider Caucasus region.

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