Masdar Eyes EBRD Financing for 200-MW Solar in Armenia

• Masdar is seeking financing for the construction of a 200 MW solar farm in western Armenia. Get the latest updates on the USD 186.6 million project and the expected November 28, 2023 decision on the Clean Technology Fund concessional loan. This eco-friendly initiative could reduce carbon dioxide emissions by up to 169,000 tonnes annually.

Masdar is seeking financing from the European Bank for Reconstruction and Development for the construction of a 200-MW solar farm in western Armenia. The USD 186.6 million project would be the second utility-scale private power generator in the country. The borrower, a limited liability company incorporated in Armenia and 85% owned by Masdar, is seeking a secured limited recourse project finance facility coupled with a concessional loan from the Clean Technology Fund. A final decision on the financing is expected on November 28, 2023. Upon completion, the facility is expected to reduce carbon dioxide emissions by up to 169,000 tonnes annually.

Will EBRD Finance Masdar's 200-MW Solar Farm?

• The project will require a total investment of USD 186.6 million
• The facility will be constructed in western Armenia and will be the second utility-scale private power generator in the country
• Masdar has requested a secured limited recourse project finance facility coupled with a concessional loan from the Clean Technology Fund
• The European Bank for Reconstruction and Development (EBRD) is considering the project for financing
• The expected completion of the solar farm is November 28, 2023
• Upon completion, the facility is expected to reduce carbon dioxide emissions by up to 169,000 tonnes annually