Workshop for Partner Financial Institutions, Investors and EPC Contractors
On March 31st, 2026, a workshop on financing of Battery Energy Storage Systems (BESS) within the scope of the Promotion of Renewable Energies and Energy Efficiency Program (GAF-RE Phase VII) for stakeholders was held.
The event, jointly organized by the German-Armenian Fund (GAF) and Fichtner, brought together more than 100 representatives of the local commercial banks and financial institutions providing loans for the implementation of renewable energy projects in Armenia, as well as investors, private companies and other stakeholders involved in the design, construction, financing and operation of PV power plants and interested in the use of BESS technologies, available through the technical and financial assistance of KfW bank.
The workshop was aimed to update the audience on the current status of the Program, introduce opportunities, application procedure and requirements for financing of PV and BESS technologies under GAF-RE's Program Phase VII, with a reference to the existing local regulatory framework and updated minimum technical requirements of the Program.
In addition, the results of an online operational survey conducted by Fichtner to document and analyze real-world operational experiences and lessons learned from PV plant installations in RA were presented to the participants.
The session was opened with welcome addresses by Mrs. Gayane Khachatryan, Director of "German-Armenian Fund" PMU and Mr. Sven-Malte Störring, Project Manager (Fichtner).
The welcome addresses were followed by a status update presentation of the GAF-RE Program delivered by Mrs. Satenik Ghevondyan. Alongside the statistics on SHPP and PV projects that have already been financed by the Programme, Mrs Ghevonyan informed the audience about the envisaged investments and lending conditions of the GAF-RE Program (Phase VII), focused on the new opportunities for implementing BESS projects and drew the audience's attention to the consultancy services available to interested stakeholders.
Mr. Arsen Hayriyan, Local Legal Expert, gave a presentation on the existing legislative and regulatory framework for BESS technology in Armenia, focusing specifically on the factors affecting the feasibility of new BESS projects in the upcoming program phase. He highlighted current gaps in the legal framework and pointed out the key drivers behind the growing significance of BESS technology, including the lack of feed-in tariffs, rising risks of curtailments and restrictions for PV facilities, and evolving regulatory trends.
Information on the updated minimum technical and E&S requirements for PV and BESS was presented by Mr. Leonel Reyes Ochoa, Project Engineer, and Ms. Christina Mansfeld, HSE Expert.
Mr. Ochoa introduced updated requirements for system design, PV modules, inverters, cabling and connectors, mounting structures, BESS, SCADA and performance monitoring for large-scale PV plants. The audience was also informed about the key eligibility requirements for BESS technology of all three tiers (large-scale, small commercial and domestic/ household) to be financed under the GAF-RE Program.
A comparison table outlining the main requirements for BESS installations of different capacities helped to illustrate the technical distinctions between systems and simplified comprehension for a non-technical audience. Meanwhile, the technical and financial advantages of integrating BESS technology were effectively showcased through a case study of a gold mine in the Kingdom of Saudi Arabia.
The presentation on Environmental, Social, Health & Safety requirements underlined the importance of ensuring proper personal protective equipment for the workers during construction and operation of PV plants, availability of functional firefighting equipment, management and safe disposal of waste, ensuring electrical safety, signage and emergency response, etc.
Mr. Artem Kharazyan, Local Project Coordinator, introduced the step-by-step guidance on application process for PV and BESS projects by demonstrating the key phases of the workflow from eligibility screening through technical assessment to loan disbursement, with particular attention for each capacity class of projects.
While presenting the guidance on document preparation, special attention was paid to the completeness of application packages and the readiness of the Consultant’s team to assist applicants with the development of documentation though a Q&A section on the website, online communication with experts and sharing sample documents from successfully appraised projects. The audience was also presented with the sequence of submission of technical and financial documentation, as well as with the loan disbursement procedure.
Ms Foteini Vlastari, Project Engineer, introduced the results of Fichtner’s operational survey on performance metrics, operational challenges and failures of key components conducted among owners or operators of 32 large-scale and 45 small-scale PV plants financed through the GAF-RE Program.
The presentations were followed by a Q&A session during which participants asked questions regarding technical, environmental financial aspects of design, construction and operation of PV plants and BESS systems.
The materials of the workshop can be found below.