EU-Armenia SME Fund, A private equity fund managed by Amber Capital and sponsored by The eu Financial institution for Redevelopment and Enchancment (EBRD) and The eu Union (EU), has commissioned a 4 MW photovoltaic (PV) Photo voltaic power plant in Partisak group of Aragatsotn area, Armenia.
The power plant is owned by Solis LLC, which was acquired by the Fund On The prime of 2020 as An group holding a license and land plot to assemble and opperiodte a Photo voltaic power station. The development works have been carried out by Ecoville and enterprise financing was provided by Ameriabank.
The complete anticipated annual period of the power plant is c. 7.8 GWh, which is equal to the annual consumption of c. 2,000 Armenian households. As a Outcome of of power plant’s opperiodtions, financial savings on CO2 emissions is c. 3,200 tons Every yr – equal to planting roughly c. 120,000 timber or taking c. 1000 automobiles off the roads. By way of the development course of, roughly 100 jobs have been created for The world people, aiding development in rural spaces.
Collectively with promoting the inexperienced agenda of Armenia, the PV plant helps to re-stability the power matrix of the nation, reducing reliance on imported power sources and positioning the nation for an environmental-nice and sustainable future.
Anushavan Simonyan, CEO of Amber Capital Armenia, said:” Commissioning of our first solar enterprise Is An important milestone for the Fund’s funding Method to create a market-main renewables portfolio in Armenia with The very biggest ESG requirements. Regardless of difficult circumstances ensuing from the COVID-19 pandemic, the enterprise was accomplished in Decrease than seven months, with strict adherence to environmental, well being, and safety requirements. We’re Very Proud of The outcomes And want to thank our companions at Ecoville and Ameriabank for a worthwhile collaboration. Renewable power stays a prime precedence for Amber Capital, and We’ll proceed investing On this space, serving to Armenia to transition in the direction of a low-carbon, vibrant financial system.”