Yerevan Combined Cycle Gas Power Plant (MIGA-3619)

  • Armenia
Where the impacts of the investment may be experienced.
Specific Location
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
  • International Finance Corporation (IFC)
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 9, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Renco S.p.A.
The holder of the loan, grant, or other investment.
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jun 25, 2020

Disclosed by Bank Feb 6, 2018

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Project Description

This project provides a guarantee to Renco S.p.A for its investments in ArmPower Close JointStock Company for the Yerevan Combine Cycle Gas Power Plant in Armenia.

The project itself consists of the design, development, financing, construction, ownership, operation and maintenance of a greenfield 250MW gas-fired combined-cycle power plant for 20 years. The power plant is located 10km south of Yerevan, adjacent to the existing Yerevan Thermal Power Plant.

Investment Description
Private Actors Description

Renco S.p.A will carry out a fixed-price turnkey EPC contract as the EPC contractor. Siemens AG is expected to be the subcontractor responsible for the engineering and supply of the extended power island, which will include the gas turbine, steam turbine, heat recovery steam generator, boiler, and other major equipment and essential control systems.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ArmPower CSJC Client -
- - - - Renco S.p.A Contractor -
- - - - Siemens Contractor -

Contact Information

No contact information avilable at time of writing.

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