In Gegharkunik Province, Shtigen has constructed Armenia’s largest solar power plant as of 2024. The construction of “Masrik-1” lasted 11 months, continuing uninterrupted even in winter, as the Shtigen team was fully prepared to tackle any weather challenges. A total of 130 workers were involved in the construction, including locals from Mets Masrik village.
- Capacity: 62 MW
- Annual Production: 128 GWh
- Total Area: 130 ha
- Number of Installed Panels: 114,984
- Annual CO₂ Emissions Avoided: Over 54,000 tons
- Project Start: November 2023
- Completion: October 2024
The annual electricity generated by “Masrik-1” will be enough to power over 20,000 households.
This project stands as one of the best examples of public-private partnership in Armenia.
“What is possible anywhere in the world is also possible in Armenia. This project was not only economically significant but also crucial for the country’s reputation. International investors, major organizations, and the global renewable energy community closely observe a country’s track record. A failed project can deter future investments, making the successful completion of ‘Masrik-1’ a matter of principle.”
– Hayk Shekyan, Founder & CEO of Shtigen Group
The “Masrik-1” solar plant meets international quality standards, as confirmed by both local and global experts.
The owner of “Masrik-1” is FRV (Fotowatio Renewable Ventures), a leading international company in renewable energy development. FRV partnered with the Chinese contractor CMEK, which then entrusted Shtigen with the plant’s construction.
“Masrik-1” is a milestone in Armenia’s energy transition, setting new standards for the region’s solar energy sector!