EBRD, EU funds support 4-MW solar project in Armenia

Private equity fund Amber Capital Armenia has acquired local solar plant operator Solis LLC to build and operate a 4-MW solar photovoltaic (PV) plant in Aragatsotn, western Armenia.

The move was supported by the European Bank for Reconstruction and Development (EBRD), the European Union (EU) and Ameriabank CJSC, EBRD announced on Wednesday.

Armenian solar plant developer Ecoville LLC is in charge of the engineering and construction of the project. Planned to be up and running by the end of 2021, the PV park should be able to generate 7.5 GWh of clean energy per year, enough to avoid the annual emissions of 3,200 tonnes of carbon dioxide (CO2).

During construction and start-up, some 50 jobs will be created in the country, EBRD noted.

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