On December 6, 2021, the presentation of solar energy-based innovative technological solutions was held in the framework of the Sustainable Agriculture and Energy program. The program is implemented by Bari Arev company with the support of Ardshinbank.

Ardshinbank’s Corporate Business Director Arthur Gyulazyan stressed that around USD 9,350,000 had been invested in the program. “The Bank financed 85% of the required amount and made available additional 25,000,000 drams to cover the insurance costs. Financing renewable energy projects is among Ardshinbank’s key priorities. During the past year, the Bank financed 11 projects in the field of solar energy alone. The Bank will continue to pay special attention to this area. The Republic of Armenia has great potential thanks to its unique geographical and climatic conditions. Programs like this are extremely important in terms of ensuring the country’s self-sufficiency and security in the field of energy,” Arthur Gyulazyan stated in his remarks.

“Bari Arev keeps introducing new innovative capabilities, which will undoubtedly boost the potential of domestic enterprises and agriculture in the use of renewable energy. They will help reduce costs significantly and provide new opportunities for more efficient, energy-saving and uninterrupted operations,” Bari Arev’s Director Hayk Harutyunyan says.

Bari Arev has been operating in the Armenian market for about 3 years. Up to date, Bari Arev has launched three industrial-scale solar stations, each with a capacity of about 6,000 kW. Ardshinbank financed the construction of Bari Arev 1 and Bari Arev 2 solar stations in Aragatsotn Marz of Armenia.