Expansion of renewable energies

active

The objective of the FC module is to contribute to the development of the potential for renewable energies by providing refinancing funds. The project is intended to contribute to achieving the development cooperation program objective: The natural livelihoods of the rural population are preserved through the protection and sustainable use of natural resources. Biological diversity is preserved through improved protection of habitats and sustainable use of natural resources. Climate protection is improved through the expansion of renewable energies and increased energy efficiency. The FC funds are intended to finance private sector investments to promote renewable energies. The borrower is the Armenian Central Bank (CBA). The project sponsor will be the German-Armenian Fund (GAF). The target group of the program includes investors and operators of renewable energies as well as commercial banks as financial institutions that can open up new business areas through the long-term financing of the projects. In contrast to the previous phases, it is expected that mainly grid-connected photovoltaic systems (PV) with a size of 5 MW will be supported. In addition, solar thermal and PV systems for private households and businesses are to be promoted to a greater extent within the framework of the program. As part of the accompanying measure, consulting services are to be financed, among other things, which will train and support the Armenian partners in terms of planning, testing, approval and implementation of financed individual projects.