Solar Panels to be produced in Armenia

The first solar panels will be produced in Armenia soon. For this purpose a manufacturing enterprise will be established, which will be unique in our region.

According to Hayk Harutyunyan, the Deputy Minister of Energy Infrastructures and Natural Resources, the production of solar panels will already begin in the second quarter of this year. In the first phase around 315 million AMD investments will be made, which will create more than 50 workplaces.

The company initially intends to supply solar panels to the domestic market. It will be exported to regional and other countries in next stages.

At the session held on February 23, within the investment project the Government decided to exempt "PROFPANEL" LLC from taxes on import of imported technological equipment, its components and accessories, raw materials.