The Armenia Renewable Resources and Energy Efficiency Fund has awarded a contract to Fotowatio Renewable Ventures (FRV), a developer of renewable energy utility-scale projects, to set up a 55 MW solar photovoltaic project in the country. The Masrik-1 plant is expected to power 21,400 homes. It will be spread over an approximate area of 100 hectares. The project will contribute towards the reduction of greenhouse gas emissions by preventing the release of about 54,000 tonnes of CO2 into the atmosphere each year. FRV is expected to begin construction in early 2019 and commission the project by end 2020.