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

Green Energy

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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. 


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