How is the largest solar power plant in Armenia built?
Armenia's largest solar power facility is under construction in the Gegharkunik region. Shtigen Group undertook the building of the Masrik-1 solar plant, which has a capacity of 62 MW and covers 130 hectares. The construction phase began in November 2023. The work did not halt in winter, harsh cold, spring, or slush and rain; the Shtigen team was likewise prepared for whatever the climate was.
The construction project employed more than 130 workers, including those from Metz Masrik.
The Masrik-1 solar plant will generate 128,332 GWh of electricity per year, enough to power over 20,000 houses. In addition, this amount will prevent the release of more than 54,000 tons of carbon dioxide every year. By the way, 114,984 solar panels were used to build the station.
The construction procedure adheres to international standards, as confirmed by both local and foreign specialists.
The geographical scope of collaboration in the plant's development is as extensive as the project itself. The Masrik-1 project is owned by FRV Fotowatio Renewable Ventures, a leading global renewable energy development company, by establishing a partnership with Chinese contracting company CMEC and assigning construction work to Shtigen․




















AraratBank at Leasing EXPO 2026: Special Leasing Offer for Energy-Efficient Equipment
Unibank to participate in Leasing Expo 2026 with a special offer
AraratBank in Lori: Competitive Solutions for Business and Economic Development
IDBank Participates in Regional Conference of the Union of Banks of Armenia, Presenting Innovative T...
Converse Bank Receives STP Excellence Award Once Again
IDBank Participates in Regional Conference of the Union of Banks of Armenia
The Power of One Dram April Beneficiary: Davitbek Games NGO
Ucom and Impact Hub Yerevan Announce the Third Year of Green Innovation Fellowship
Up to 25% idcoin When Buying Airline Tickets with IDBank Premium Cards
Team Holding: The second phase of the placement of USD-denominated bonds has been completed. Underwr...