Utility Scale Solar Power Project (WB-P155662)

  • Armenia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 4.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Mar 13, 2019

Disclosed by Bank Jun 5, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the power system of Armenia is unbundled and consists of independent electricity generation, transmission, and distribution companies as well as the electric power system operator (EPSO) and the settlement center. It has a“single buyer model” (with one electricity distribution company acting as the single buyer and supplier of electricity) with regulated tariffs for generation, transmission, and distribution. The tariffs are approved by the independent Public Services Regulatory Commission (PSRC).

This project aims to increase privately owned and operated solar electricity generation capacity in Armenia with the following PDO Level Outcome Indicators:

  • Indicator One (Corporate Results Indicator): Generation capacity of energy constructed or rehabilitated (MW).

  • Indicator Two (Custom): Utility-scale solar PV generation added to the grid (GWh).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Almudena Mateos Merino
Email Address: amateos@worldbank.org

Project Contact: Arthur Kochnakyan
Email Address: akochnakyan@worldbank.org

Borrower: Ministry of Energy Infrastructures and Natural Resources
Ashot Manukyan, Minister
Telephone No.: +374 11521964
Email Address: minenergy@minenergy.am

Implementing Agency: Renewable Resource and Energy Efficiency Fund
Armen Melkikyan
Tel: +374 10588011
Email Address: armen.melkikyan@r2e2.am


The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.

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