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“Tufenkian Historic Yerevan” Goes Solar

“Tufenkian Historic Yerevan” Goes Solar

“Tufenkian Historic Yerevan” hotel switched to solar technologies for heating water. We recently installed and successfully put into operation solar water heating system, consisting of 1,140 vacuum tubes, which will ensure annual 3.5 mln AMD savings for the hotel. Details of the system are available in our portfolio.

The project was jointly financed by Panarmenian Bank and ACBA Leasing.

“This is not the first project, financed by “ACBA Leasing”. After the range of successful projects implemented in 2014 we created “Green Leasing” sub-brand to fund only energy saving and energy efficiency projects. This is ideal solution for business, as it allows not only to preserve the environment, but also but also saves funds for business development after repayment of leasing. In 2016-2018 “ACBA Leasing” plans to increase investments to Green Leasing, since the projects like this are becoming more and more actual. Financing solar water heater through leasing is a new instrument on financial market, because it doesn’t require collateral, doesn’t expose the customer to FX risk and resolves environmental issues. These projects are financed on the account of specially attracted funds and are provided to both legal entities and individuals for annual 10.5% and 60 month of repayment period”, – noted Mr. Arsen Bazikyan, CEO, ACBA Leasing.

Solar energy has great potential in Armenia, thanks to natural and climatic conditions. Dependency on conventional sources of energy makes solar and other renewable energy development even more important for Armenia. Solar water heaters work throughout the whole year, are able to withstand even direct hits of hail of 3cm in diameter and allow to get free hot water for using at home or in business.

«Solar water heaters are efficient solutions especially for hotels and we are happy to work with such a progressive, strict and constructive partner, as “Tufenkian Historic Yerevan” hotel. In 2015 we realized similar projects in various regions of Armenia, while this is the first big installation in the heart of Yerevan. I’m sure in 2016 solar water heaters will get new wave of development in Armenia”, – said Mr. Hayk Shekyan, CEO, Shtigen.

Video below features our installation at “Tufenkian Historic Yerevan” hotel (in Armenian). Thanks to CIVILNET for featuring our installation.

More details on solar water heaters, installed in “Tufenkian Historic Yerevan” hotel and other businesses and private houses are available in “Our Portfolio” section of our web-site.


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