Green Cross International, formed by former Soviet leader Mikhail Gorbachev, will allocate funds to build a plant producing solar power generators in the Armenian city of Spitak, News.am reports.
Head of the programs on solar power plants Vahagn Hamazaspanyan said it will help Armenia overcome economic crisis as not a single country is producing such equipment, while the demand is growing.
Preliminary investments in the project are amounting to $8 million. The plant is supposed to produce up to 1,000 units with different capacities (3-32 kilowatt). One generator with a capacity of 32 kW is sufficient to supply electricity to a household.
