Private equity fund Amber Capital Armenia, supported by the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), has acquired Solis LLC, an Armenian solar plant operator, to build and operate a 4 MW PV power plant in Aragatsotn, western Armenia. The facility is expected to be operational by the end of 2021 and generate 7.5 GWh per year. The power plant will contribute to Armenia’s green recovery and create around 50 jobs in construction and plant operations.
Ecoville LLC, service company for development and construction of commercial ground-mounted solar power plants and rooftop PV systems in Armenia, has been awarded the engineering and construction contract for the project in a competitive tender process.
This is the first project financed by 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.
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