HERE AND BEYOND
Ameriabank Received “Deal of the Year  Energy Efficiency” Award from the EBRD
Media Room
The European Bank for Reconstruction and Development (EBRD) awarded Ameriabank “Deal of the Year -- Energy Efficiency”  for improving the energy efficiency of greenhouse infrastructure in Armenia in 2015.
Ameriabank issued two letters of credit to Alternativ Energia  with confirmation and post-financing from Commerzbank, and the EBRD standing as a guarantor. Dutch development bank FMO shared part of political and commercial payment risks. In total, the project investment was USD 2.3 million of which USD 1.91 million was financed through two letters of credit issued by Ameriabank.
The financing helped Alternativ Energia purchase energy - efficient greenhouse equipment imported from the Czech Republic which is expected to save the company up to USD 390,000 in energy costs per year compared to conventional greenhouse gas equipment and decrease its natural gas consumption by 1,950,000 m³.
The cutting-edge equipment will help the company to gain a competitive edge both on the domestic and foreign markets.
Prioritizing the role of greenhouses for the development of agriculture in Armenia, Ameriabank is intensively involved in financing of greenhouses, in particular, import of equipment with the highest productivity and efficiency characteristics. Ameriabank has more than 70% share in financing of greenhouse projects in Armenia.
Thanks to energy efficient and cutting-edge facilities greenhouses have an opportunity to gain a competitive advantage, have a year-round production and support Armenia’s economic development.
Updated 27.05.2016, 9:28
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