Categories: Finance

Armswissbank: “Sharosolar” industrial solar power station WAS LAUNCHED

On October 20, the official opening ceremony of “Sharosolar” industrial solar power station took place in Katnaghbyur community of Aragatsotn region.

The installed capacity of the station is 5 MW (photovoltaic capacity 6 MW). The most modern bifacial half-cut panels of the international market were used, which generate electricity through the front and opposite faces.

“Sharosolar” industrial solar power station will produce 10.5 GWh of electricity per year, will reduce carbon dioxide emissions into the environment by 3,000 tons per year. The solar station has been designed and built by Sharosolar company. The station occupies an area of about 6 hectares.

The total investment amounted to about 3.5 mln USD, 80% of which was financed by “ARMSWISSBANK” CJSC, and 20% – from the personal funds of the company owner.

It is noteworthy, that sustainable financing, including renewable energy financing, is one of the Bank’s strategic directions and over the past 3 years, the Bank has already financed more than 110 solar systems projects.

“Sharosolar” LLC was founded in 2019. During its operation, the Company has created dozens of temporary and several permanent jobs. In addition to “Sharosolar” industrial solar power station, the Company is constructing the “Sharosolar 1” industrial solar power station, which is scheduled to be launched by the end of 2021.

“ARMSWISSBANK” CJSC was founded in 2004. As a dynamically developing financial institution, the Bank operates in the field of corporate-investment banking services, offering both traditional and modern financial solutions adopted in the international banking system. One of the strategic directions of the Bank is the financing of renewable energy, including solar power plants, energy efficiency and modern agricultural projects


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