WITH THE FINANCING OF “ARMSWISSBANK” CJSC "Arpine-1" solar industrial station WAS LAUNCHED

On August 14, the official opening ceremony of "Arpine-1" solar industrial station took place in Solak community of Kotayk region.

The project was announced about a year ago. The construction of the station was launched in July, after the completion of financing and supply works. The installed positioning capacity is 1.2 MW (photovoltaic capacity 1.5 MW). The most modern bifacial half-cut panels of the international market were used, which generate electricity through the front and opposite faces. “Arpine_1” industrial solar power plant is one of the best examples of Diaspora investment in Armenia, as the investments have been made by American-Armenian businessmen. It will produce 2.25 GWh of electricity per year, will reduce carbon dioxide emissions into the environment by 530 tons per year.

The «Arpine-1» solar power plant has been designed and built by Renewable Caucasus Corporation (Sunny City) company. The station occupies an area of about 2 hectares, where 2,654 double-sided panels have been installed. The total investment amounted to about 800,000 USD.

The station was financed by "ARMSWISSBANK" CJSC. 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 100 solar systems projects.

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Renewable Caucasus Corporation (Sunny City) company was founded in 2016. Being one of the leading companies providing services in the field of renewable energy in Armenia, the company offers a range of services in the fields of solar, wind energy, energy efficiency, besides, is a part of a group, which includes companies engaged in the import and sale of electric cars and modern construction equipment.

"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