Quick Facts

Where the impacts of the investment may be experienced.
  • Armenia
Location: Yerevan
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.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Multilateral Investment Guarantee Agency (MIGA)
Status: Proposed
Bank Risk Rating: A
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.
Board Decision Date: 2018-03-09
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.
Borrower or Client: Renco S.p.A.
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Construction
  • Energy
Investment Type(s): Guarantee
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.

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Primary Source

Original disclosure @ MIGA website
Updated in EWS: 2018-03-01
Disclosure Date: 2018-02-06
Yerevan Combined Cycle Gas Power Plant

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

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.

Contact Information

No contact information avilable at time of writing.

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/

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