About $ 3.5 million will be invested in construction of  Solar Power  Station with capacity of 5 MW in Gegharkunik region of Armenia

ArmInfo.A.S. Energy LLC will invest 1.65 billion drams for the construction of a  Solar Power Station with an installed capacity of 5 MW in the Gegharkunik region  of Armenia.

On November 4, the RA government satisfied the company's  application for exemption from import customs duties on imported  technological equipment, their components and components for them,  raw materials and materials imported within the framework of the  investment program implemented in the priority area.

According to the explanation to the document, the solar power plant  will be built in the Astghadzor community of the Gegharkunik region  of the Republic of Armenia. The planned volume of investments will be  about 1.65 billion drams (about 3.5 million US dollars at the current  exchange rate, Ed. note).  It is planned to install high-efficiency  double-sided monocrystalline photovoltaic modules Risen Energy  (www.risenenergy.com) with a power reduction of no more than 0.5% per  year. The project will use inverters (converters) from Huawei. The  portable supporting structure of solar panels will be imported by  Arctech.

The total production volume will be about 230 million drams per year,  which will be fully realized on the territory of Armenia. The  generated electricity will be fully sold to "ENA" CJSC; there is a  license for electricity production issued by the Public Services  Regulatory Commission of the Republic of Armenia.

It is noted that about 80% of investments have already been made - a  land plot has been purchased, construction and design work has been  completed, payment for equipment has been made. Within the framework  of the program, it is planned to invest 1.6 billion drams for the  construction, testing and operation of the stations. 4 jobs with a  salary of 250,000 drams will be opened.

The cost of goods for which the privilege is provided is 312.6  million drams. The exemption from customs duties is 30.6 million  drams