ADVERTISEMENT

EBRD, EU-backed fund invests in Armenia's renewable energy sector

Green Energy

Image by Pixabay

Private equity fund Amber Capital Armenia, supported by the European Bank for Reconstruction and Development (EBRD) and the European Union, has acquired Solis, an Armenian solar plant operator, to build and operate a 4-MW (megawatt) photovoltaic (PV) solar power plant in Aragatsotn, western Armenia.

The facility is expected to be operational by the end of 2021 and generate 7.5 GWH (gigawatt-hour) of clean energy per year, resulting in 3,200 tonnes of avoided CO2 emissions annually.

The power plant will contribute to Armenia's green recovery and create around 50 jobs in construction and plant operations. Ameriabank provided financing towards this first project. 

ADVERTISEMENT

Regional income disparities remain pronounced Analysis

Regional income disparities remain pronounced

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.