{"id":74279,"date":"2020-07-19T06:31:22","date_gmt":"2020-07-19T06:31:22","guid":{"rendered":"https:\/\/www.alj.com\/?post_type=in-the-news&#038;p=74279"},"modified":"2020-11-04T07:54:46","modified_gmt":"2020-11-04T07:54:46","slug":"multilateral-lenders-finance-armenias-biggest-pv-plant","status":"publish","type":"in-the-news","link":"https:\/\/alj.com\/en\/in-the-news\/multilateral-lenders-finance-armenias-biggest-pv-plant\/","title":{"rendered":"Multilateral lenders finance Armenia\u2019s biggest PV plant"},"content":{"rendered":"<ul>\n<li>It has been two years since Fotowatio Renewable Ventures won the bid to develop the 55 MW site and with finance finally secured, the build can go ahead.<\/li>\n<\/ul>\n<p>Armenia\u2019s\u00a0<a tabindex=\"0\" href=\"https:\/\/www.pv-magazine.com\/press-releases\/armenia-pre-bid-conference-for-masrik-1-pv-project-was-held-in-yerevan\/\" target=\"_blank\" rel=\"noopener noreferrer\">biggest utility scale solar plant<\/a>\u00a0has reached another milestone with the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the EU itself having signed off a package of loans and grants for the 55 MW Masrik site.<\/p>\n<p>The <a href=\"https:\/\/frv.com\/en\/\">Fotowatio Renewable Ventures<\/a> business owned by Dubai-based Abdul Latif Jameel Energy won the tender for the project in April 2018 but construction has not started in the Mets Masrik municipality of Armenia\u2019s Gegharkunik province.<\/p>\n<p>The IFC private-sector arm of the World Bank will lend $8.9 million to match-fund a loan provided by the Finnish government through the Finland-IFC Blended Finance for Climate Program. The EBRD will lend a further $17.7 million, to complete $35.5 million of borrowings, with the EU adding a \u20ac3 million ($3.4 million) grant.<\/p>\n","protected":false},"featured_media":74287,"template":"","tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finance for Armenia\u2019s biggest PV plant | Abdul Latif Jameel\u00ae<\/title>\n<meta name=\"description\" content=\"The Masrik-1 project has attained finance from the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the EU.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alj.com\/en\/in-the-news\/multilateral-lenders-finance-armenias-biggest-pv-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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