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Shtigen commissioned the 1 MW PV Plant Project

Shtigen LLC commissioned the 1 MW utility scale PV project two days ago in the presence of Armenia’s Prime Minister, Karen Karapetyan.

The plant consists of 3,124 polycrystalline solar panels (Talesun) and 37 solar inverters (Fronius); and is expected to generate up to 1,6 GWh of electricity annually.

The project is located in the Shenik community of Armavir Marz, and was built in cooperation with Shtigen, Baghramyanshin and ACBA Leasing. About $800,000 was invested.

During the opening ceremony, founder and director of Shtigen Hayk Shekyan mentioned: “Though we have a more powerful solar thermal plant (this is about a 1.5MW peack power station at Grand Sport Sport Complex), this station is of particular importance to me. It is our first 1 MW photovoltaic station, the station was built in close cooperation with several companies and entirely by local forces. The station is about 3 km away from the Turkish border and besides its energetic significance is also a unique developmental symbol, an example of private and state long-term projects”. Hayk Shekyan, as a guarantee of the quality of work, also mentioned the fact that the international expert group visited recently the plant and highly appreciated the work, which, according to him, is an important criterion for the development of solar energy.

“I am convinced that this station is still the beginning. In a couple of years, we will look at 1 MW stations as we look at one solar water heater today”, said the founder of Shtigen Hayk Shekyan.


Bellow some fragments from an article about this station published in PV Magazine.

Under a special tariff regime introduced by the Armenia Public Services Regulatory Committee (PSRC) in December 2016, which supports projects between 150 kW and 1 MW in size, the government issued 11 licenses worth 10 MW.

Shtigen was awarded 3 MW of this total. While 1 MW has just been commissioned, several more projects are in the pipeline.

Founder and CEO, Hayk Shekyan adds that two projects, totalling 1 MW and 580 kW, respectively, will be commissioned in 2018. The generated electricity for the current operational project is being sold for around $0.088/kW, he says.

All of the projects have owners, continues Shekyan, which are taking advantage of credit facilities provided by German development bank, KfW. As a rule of thumb, owners invest between 20 to 30% of total project costs, he says.

Hayk Shekyan says the Armenian Government will open additional quotas for utility-scale PV plants in 2018. “According to the Prime Minister of Armenia they will have a price of 0.05$ for one kWh,” he says. He could not say how big the quotas are expected to be, however.