Ameriabank has initiated a platform to discuss the development  prospects and advantages of

ArmInfo. Ameriabank CJSC initiated the holding of discussions at the "Sunny Leasing" conference for corporate and potential clients.

According to Bank Director General Artak Anesyan, the event is held to enable the business segment to get acquainted with the benefits of using solar energy, new trends,  solar stations, effective financial schemes and tools, existing  experience and get advice on the full process of using solar energy.  Anesyan noted that since the beginning of 2019, in the framework of  cooperation with the GEFF ("Financing a Green Economy" program),  Ameriabank presented solar financing to 30 organizations, and the  bank's portfolio in this segment reached 3 billion drams. The  program, according to Anesyan, will be continuous.

In turn, the director of Ameriabank CJSC through corporate and  investment banking Gagik Sahakyan told reporters that in the future  the program will be expanded to cover individuals. In particular, he  recalled that the offer on the side of Ameriabank "solar leasing"  provides an opportunity for clients to receive cashback in the amount  of 20% of the total loan value, as well as unsecured financing, a  wide range of cooperation with leading market providers,  international funds, the use of other leasing tools and others.

Answering the question of ArmInfo, Sahakyan noted that the bank's  portfolio on "solar leasing" is growing dynamically and can reach 5  billion drams by the end of the year. "It is very important for us to  stimulate the development of the renewable energy industry. We are  trying to form today a platform where suppliers, financial  organizations, investors who have numerous proposals will meet, "said  Sahakyan.

According to the representative of Ameriabank, three years ago, solar  energy was an unpromising area for business due to the high cost of  solar panels. "But with the development of technology, there has been  a significant reduction in prices, and solar energy has become more  attractive not only in developed European countries, but also in  developing countries of Eurasia," he added.

Meanwhile, as Sahakyan noted, answering the question of ArmInfo,  today, covering the Armenian market with solar energy is at a very  low level. However, in this situation, the banker adheres to a  positive outlook, since he believes that the sphere is quite  promising in Armenia. In this vein, he gave an example with small  hydropower plants, which at one time did not have such wide  representation in the country as they have today. In turn, the Deputy  Head of the GEFF project in Armenia, Andro Butkhuzi, noted that the  program funded by the EBRD is aimed at supporting businesses and  individuals who are willing to invest in green technologies.  Answering the question of ArmInfo, he noted that despite the fact  that the project was launched recently, positive trends had already  been recorded, in particular, from the point of view of high demand.  "Today there is a boom in Armenia in the field of investing in  renewable energy sources," he stressed.

According to him, the general fund of the program in Armenia reaches  $ 20 million, the term of which is 3- 4 years. At the moment, loans  for $ 2-3 million have already been submitted.

Deputy Minister of Energy and Natural Resources of Armenia Hakob  Vardanyan noted on the sidelines of the conference that in 2018 in  Armenia, the share of solar energy was only about 0.2% of the total  energy produced in the country. By the end of 2020, taking into  account all the programs envisaged, the total generation of solar  energy in the country is planned to be increased to 2%. In this vein,  the deputy minister referred to the Public Services Regulatory  Commission (PSRC), which gave permission for the construction of  solar stations with a total capacity of 100 megawatts, half of which  are already licensed. "If the first industrial solar power station  Masrik, with a capacity of 55 MW, with a capacity of 120-150 million  kW / h of energy, will be commissioned in 2020, the share of solar  generation will reach 3%," he concluded.

It should be noted that at the "Sunny Leasing" conference, the head  of the leasing operations department of Ameriabank CJSC Zara  Bostanjyan made a presentation where she presented the advantages and  mechanisms of using solar energy through leasing and other financial  instruments, as well as panel discussions with the participation of  public and private sectors.