EBRD- and EU-backed fund invests in Armenia’s renewable energy sector
May 19, 2021

EBRD- and EU-backed fund invests in Armenia’s renewable energy sector

The 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 photovoltaic (PV) solar power plant in Aragatsotn, western Armenia. This is the first EBRD- and EU-backed fund’s investment in Armenia’s renewable energy sector.

The facility is expected to be operational by the end of 2021 and generate 7.5 GWH 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.

This is the first project financed by the EU-Armenia SME Fund, managed by Amber Capital. The private equity fund seeks to invest in viable small and medium-sized enterprises (SMEs) in Armenia. Ameriabank provided financing towards this first project.

Find out more

Press release


Interested in the latest news and opportunities?

This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a GOPA PACE-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.

The information on this site is subject to a Disclaimer and Protection of personal data. © European Union,