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Kick-off Workshop with GAF, PFIs and Investors

On May 25, 2021, the GAF-RE Program – “Promotion of Renewable Energies" (Phases IV and V) – was launched with a kick-off workshop at “Erebuni Plaza” Business Center, in Yerevan.

The event was tailored for the PV project developers, owners and operators, as well as representatives of the Program partner financial institutions. The objective of the event was to introduce the activities and requirements of the Program (including environmental and social aspects) and its eligibility criteria, present and discuss application and evaluation procedure, as well as address questions of the stakeholders.

The session was opened with welcome addresses by Mrs. Christine Ziß, Project Manager (KfW), Mrs. Bella Andriasyan, Senior Project Coordinator (KfW Armenia) and Mrs. Gayane Khachatryan, Director of GAF SE.

 

 

In the first session, Mrs. Satenik Ghevondyan, Senior Project Manager (GAF), introduced the background and objectives of the Programme, underlining the rising importance and priority of environmental, social, health and safety requirements to be met by the potential investors. A comprehensive update of the audience on the funding volumes available under the Phase IV and V of the Programme, as well as on the current status of Phase IV, target LTVs for small- and large-scale projects and other financing aspects related to the Programme was made. The presentation of Mrs. Ghevondyan was concluded with the introduction of the Technical Consultant of the Programme –Fichtner GmbH & Co. KG.

Some of the key messages delivered in the presentation of Mrs. Ghevondyan were as follows:

  • PV plants with up to 500 kW for own consumption (for both individuals and legal entities), grid-connected PV plants with up to 5 MW, as well as other RE technologies such as biogas, biomass, wind, etc. are eligible to be refinanced through the Programme via 12 PFIs. The total amount of funds available under the Phase IV and V is about 50 mln Euro.

  • Unlike the previous phases, not only new constructions but also under construction and built & operation large-scale PV projects can be funded under the Phase IV and V, provided that a Positive Technical Assessment is issued by the Consultant and high priority is given to ESMS and Health and Safety considerations.

The session was followed by the presentation delivered by Mr. Sven-Malte Stoerring Senior Project Manager (Fichtner). In his presentation, Mr. Stoerring introduced the application process, eligibility criteria, evaluation procedures and timeline, key documents to be submitted by applicants, as well as milestones for loan granting and disbursement, next steps and formal launch of the Programme.

At the end of the presentation, two subcontractors of the Consultant were introduced. The activities of the Consultant will be supported by:

  • EA Energy Advisory, Consultant’s long-term partner in Armenia and independent energy consulting company providing informational and advisory consulting services to energy market players, government institutions, donors such as International Financial Institutions (WB, ADB, KfW), power plant developers and other utilities. EA is staffing Consultant’s team with local experts.

  • R2E2 Fund, an entity founded by the Government of RA in 2006 to create a favorable environment for the development of renewable resources and energy efficiency sectors in Armenia. R2E2 is in charge of the technical assessment of small-scale PV and STH projects.

The participants were requested to send their suggestions for improving the GAF RE programme to GAF.

During the second part of the workshop the Consultant’s team of experts introduced the following key documents: Project Application Form, Checklist of required documents for Technical Assessment and Minimum technical requirements for PV plants that includes also ESHS (Environment, Social, Health and Safety) requirements.

The latter presentation was followed by intensive Q&A session during which participants asked questions regarding the launch of application and evaluation process, and made a number of proposals regarding the introduced documents and requirements and, particularly, regarding issues associated with EIA and ESHS. Some of the most important and relevant comments were taken into consideration by the Consultant and reflected in the final revision of the Application Form and Checklist.

During the closing remark it was noted that applications would be accepted starting June 1, 2021.

Materials of the workshop can be found below.