Armenia will soon see its first PV module factory start manufacturing activities. According to the Armenian Ministry of Energy Infrastructure and Natural Resources, solar manufacturer Profpanel LLC will begin the production of its solar module factory by the end of June.
The company initially invested 315 million AMD (approximately $650,000) in the facility, at which around 50 people will be employed. Modules produced at the factory will be initially distributed on the Armenian market, but at a later stage the company also hopes to sell abroad as well, the ministry said.
According to Profpanel’s website, the company, which was founded in 2012, is building a PV factory with an annual capacity of 10 MW. The facility will produce 60/72-cell monocrystalline, polycrystalline and PERC type modules for residential and commercial installations. The company’s standard monocrystalline module has a power output of 275 W, while the polycrystalline module and the PERC monocrystalline panel have a power output of 255 W and 295 W, respectively.
The Armenian government is currently supporting PV projects up to 1 MW through a FIT scheme and residential and commercial solar up to 150 kW through net-metering.
Armenia’s six-year $58 million solar program is directed by the Renewable Energy and Energy Efficiency Foundation, a non-governmental organization whose mission is to facilitate investments in energy efficiency and renewable energy in Armenia. The scheme is also supported by the Climate Investment Funds, the Armenian Ministry of Energy and Natural Resources, the World Bank, and the Asian Development Bank.