This project provides financing to ArmPower for the construction of a 250MW greenfield combined-cycle gas turbine power plant in Yerevan.
The project is being implemented by ArmPower CSJC, a special purpose entity owned by the Italian company RENCO S.P.A. The project is being developed by a consortium including Renco S.p.a., Simest S.p.a. and Siemens Project Ventures. Renco, present in Armenia since the last sixteen years, is an Italian company with core activities encompassing engineering and construction services in the energy, oil & gas and infrastructure sectors.
Simest S.p.a is an Italian development finance institution (established in 1991), to promote international development of Italian companies by providing technical and financial support. Siemens Project Ventures is part of Siemens AG, a German conglomerate focused on areas of electrification, automation and digitalization. Siemens is a leading supplier of power generation and transmission systems.
+374 10 590799
Vazgen Sargsyan Street 10, Kentron, 00010 Yerevan
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/