Construction of a solar station has started in Vayots Dzor’s Saravan community. The $9 million investment will be completed within the next year, Diaspora High Commissioner’s Office reports.

The project is finded by Cypriot-Armenian businessmen David and Alexander Petrosyan and Ashot Mkrtchyan. Inspired by the changes in Armenia, they decided to make the investment after meeting with High Commissioner Zareh Sinanyan in Cyprus ten months ago.  

 Ashot Mkrtchyan says they have turned their attention to the homeland, and investments in other areas are also possible.

MP Vardges Mahdesyan, representative of the Armenian community in the Cypriot House of Representatives, expressed his confidence that the Republic of Cyrus’ experience in the field of solar energy will greatly contribute to the success of the investment. According to the MP, this initiative will promote the development of Armenia-Cyprus relations, as well as the strengthening of homeland-Diaspora ties and Armenia’s economic progress.

David Petrosyan, a Cypriot-Armenian businessman and co-investor, praised the activities of the Office of the High Commissioner and the role of Zareh Sinanyan in the decision-making process. According to the businessman, this initiative is especially valuable in terms of ensuring Armenia’s energy security.