YEREVAN, MARCH 5, ARMENPRESS. The communities in Armenia without gas supply start using solar energy.

Armenia Renewable Resources and Energy Efficiency (R2E2) Fund approved 320 applications in three months within the framework of the project aimed at increasing the energy efficiency of communities without gas supply.

Armen Melkikyan, Director of the Fund, told Armenpress that under this project financial structures provide affordable loans for installing solar power plants and water heaters. “We are trying to solve a social issue in communities where there is no gas supply infrastructure, these communities comprise nearly 5% of our country. We have created a package at our expenses, are working with the credit companies and offer individuals an opportunity to install solar power plants and water heaters at 7-8% annual interest rate with 8 years maturity period”, he said.  

He said the number of people wanting to use this opportunity increases, they have already approved 320 applications in three months, and the funds are already distributed by financial structures.

Armen Melkikyan informed that they want to continue and expand this project and for this purpose they have applied for several grants. There are plans to set up a tool and compensate the interest rate of large families of communities included in this project. “Initially, this will relate only to two provinces – Shirak and Gegharkunik, and in case of success we will try to promote the development of this sector by financial tools, at the same time helping people to solve their daily issues”, he said.

He also didn’t rule out that in case of financial resources the project will operate also for beneficiaries, who, although living in communities with gas supply, do not use this fuel.

Residents of nearly 280 communities and law companies will have an opportunity to acquire equipment for receiving clean energy with privileged conditions by making minimal investments.

English –translator/editor: Aneta Harutyunyan