Success Stories

Successful projects are often the inspiration for new green investment opportunities. The examples provided here demonstrate what has already been achieved with GEFF expertise and financial help.


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Expanding PV Panel Production for Sustainable Growth in Armenia

05.09.2023 -

In the sun-kissed city of Yerevan, back in 2019, a visionary enterprise emerged – the birth of “LA Solar” LLC. This remarkable company embarked on a journey to craft solar magic, conjuring high-quality PV panels as their forte. With a factory humming to life, it boasted a formidable capacity of 350 MW/year, birthing PV modules


Harvesting Efficiency: A Wine-Maker’s Journey

05.09.2023 -

Nestled amidst the stunning landscapes of Armenia, the Vedi-Alco winery is one of the nation’s largest and most esteemed wine-making enterprise established in 1956. Across the sprawling vineyards, spanning a generous 120 hectares, 70 hectares were exclusively dedicated to nurturing the treasured indigenous “Areni” grape variety dating back 4,000 to 6,000 years, a testament to the


More Chocolate Variety with Less Energy

04.07.2023 -

Founded in Aragatsotn in 2018, Nairi Land LLC produces more than 15 varieties of ice cream, in addition to chocolate dragees and chocolate paste. The company’s main objective has always been to introduce new products while operating in the most efficient manner possible. Since the start of its operations, Nairi Land has almost completely switched


Fresher Food with Energy-Efficient Fridge

26.08.2022 -

Latte LLC was established in 2013 and operates grocery stores in Yerevan. Due to growing demand, the chain expanded in the capital city of Yerevan and had to purchase new equipment for opening a new store: cooling systems, refrigerated cabinets and counters. As most of the electricity consumed in stores was for refrigeration purposes, it


Greening a Storage Facility with Electric Forklifts and Solar PV System

24.08.2022 -

Decora Group trades in renovation materials and furnishing and has been in the construction products industry for 20 years. The company has expanded rapidly in the last five years, opening more showrooms, requiring bigger warehouse space, and purchasing new equipment. It was time to transition from diesel to electric forklifts. The older machines generated more


Recycling is Even Greener with Renewable Energy

24.08.2022 -

Artiki PHK LLC is a unique recycling business established in Armenia in 2008. Its primary function is to recycle textiles, importing leftovers from large foreign textile manufacturers, and transforming them into microfibres to be used in pure form or processed into yarn. To further contribute to its long-term operating efficiency and sustainability and become even


Solar energy for healthier fish production

24.08.2022 -

Artyom Torosyan PE was established in 2008 in Ararat, Armenia, to produce fish for local consumption. To stay competitive and meet the market demand, the company expanded its production thanks to the installation of aerators, which enrich the water with oxygen and help improve the quality of fish.  Aerators require more energy, leading to higher


A green layer cage system helps preserve the biorhythms of chickens and improve the quality of production

27.04.2022 -

Variant Group LLC is a medium-sized egg producer from the Ararat region of Armenia which supplies the local market. This includes retail stores and other food producers. Taking advantage of green finance in combination with the “State assistance of leasing for financial lending of agri-food equipment in the Republic of Armenia” programme, the company decided


Top tier meat producer chooses high-performance refrigeration system to ensure quality standards

28.02.2022 -

Established in 1995, Bacon Product LLC is a company active in the manufacturing of meat products and convenience food. The family-owned business was founded by two brothers and began in a small factory. Over time, the company expanded and currently operates at a larger production site, which was developed in accordance with international standards and


Reliable quality in construction services

30.12.2021 -

Spectekh LLC was established in 2018 with the aim of delivering quality construction equipment rental services to the fast-developing real estate development sector. For a construction equipment rental service company, what matters most is the timely, accurate and quality delivery of agreed services as an outsource partner. High-performance equipment, which is available for leasing through


Improved efficiency loader quickly pays off and contributes to competitiveness

26.11.2021 -

Vil Food LLC is a producer of traditional canned fruits and vegetables established in 2007 in the central Kotayk region of Armenia. After five years, the company had achieved such a firm position at the Armenian market that it was able to pursue export opportunities of its tasty products to Russia, France and the USA.


Confectionery tastes best when prepared in high-performance ovens

23.11.2021 -

Daroink LLC is a confectionary company offering high-quality products at the local market. After opening in 1998, the company wasted no opportunity to deliver a wide variety of goods and expand its regional distribution. Within a few years, its products have become well known. In 2003, Daroink was among the few enterprises to be recognised


Energy efficiency is at the core of an Armenian wine producer’s operations

01.09.2021 -

In 2002, the Avetisyan family established the wine production company Kataro, which in 2010 introduced bottled wine for mass consumption made from Khndoghni (Sireni), a rare variety of wine grape indigenous to the Hadrut region. Annually, the winemaker produced and exported approximately 60,000 bottles of wine overseas. The winemaker decided to invest in energy-efficient bottling


Energy-efficient technology multiplies dairy’s production capacity

23.07.2020 -

An Armenian dairy producer invested in new production machines to increase operational efficiency, boost its productivity and become more environmentally friendly. Established in 2000, Millkat LLC distributes a range of dairy products under the brand name Elnor nationwide. The old equipment, which the company used to make butter and butter spread, with the capacity of


Solar energy for sustainable tourism

10.07.2020 -

The Avan Marak Tsapatagh Hotel by Tufenkian Hospitality was established in a rural location close to Lake Sevan in the Gegharkunik region in 2002-2003. At that time, the hotel covered its main energy needs using grid electricity and diesel fuel. It also generated a minimal amount of energy using rooftop solar panels that were installed


Green refrigeration helps save both energy and water

12.06.2020 -

Established in 2002, Tamara Fruit is one of Armenia’s largest companies producing a wide range of conventional juices, compotes, nectars, jams, etc. It is also the first enterprise in Armenia to produce deep-frozen fruit and vegetables, as well as organic food. In addition to domestic sales, the company’s products are exported to Russia, the USA,


Renewable energy leads to the improved environmental impact of asphalt production and road construction

29.05.2020 -

Established in 1999, Ararat-Chanshin LLC is a construction company that specialises in road construction as well as the production of cement-concrete and basalt powder. In early 2020, the company made the strategic decision to invest in solar energy with the aim of covering its major need for electricity. To this end, Ararat-Chanshin LLC applied for


Armenian supermarket harnesses solar power for sustainable growth

31.03.2020 -

Armenian supermarket installed solar panels to cut its energy costs, deliver better prices for its customers and benefit the environment. Geghetskuhi Anahit LLC established the largest supermarket and food-court of Gegharkunik region in 2014.  Located on a major touristic highway connecting east to west, the business benefits from many visitors and a high number of


Regional production and service in favour of solar energy

23.01.2020 -

Located in Vanadzor, the third most populated city in Armenia, Mikinyan LLC was first established in 2014 as a producer of confectionery. In 2016, the growth in market demand prompted the company to expand its production to include a service point and provide catering services in a centrally located cafeteria. For both projects, the owner


Freight forwarding company creates long-term value through green investment

30.12.2019 -

One of the first established and leading freight forwarding companies in independent Armenia has invested in high-performance loaders to make its processes more energy and cost-efficient. Established in 1993 to organise the freight delivery of humanitarian aid to Armenia, Apaven became a commercial business and one of the most recognised companies of the country. The


Energy-efficient equipment makes poultry production more reliable

30.10.2019 -

Ashtarak Dzu, established in 2007, is one of the biggest poultry producers in Armenia. The stable market growth made the company reconsider its production with a view to the long term. The management, therefore, decided to invest US$ 59,237 in a loader, which makes the chicken feeding process more reliable, animal-friendly and energy-efficient. The payback


Small hydro power plant doubles its output through energy efficient investment

02.09.2019 -

Since 2013, Energodzor LLC has been operating a small hydropower plant (SHPP) on the Vaghut River in the Syunik province under a license issued by the Public Services Regulatory Commission. From 2015 to 2018, Energodzor’s electricity production was approximately half of the designed level. Because of this, the company decided to invest in a modern


Kraft solutions more competitive through energy efficiency

16.08.2019 -

Established in 2007, Karton-Tara LLC is one of the main paper products producers in Armenia. The company’s primary products are kraft paper, kraft boxes, egg cartons, and almost any type of primary and secondary packaging. The equipment used for the production of kraft paper was outdated and frequent malfunctions caused delays in the delivery of


Health and beauty clinic leverages its potential through renewable energy

28.06.2019 -

By investing in the in-house solar PV station with 43 kWp capacity, one of the leading health and beauty medical service providers in Armenia, “Avangard Med”, is attempting to maximise its profitability over the long term and becoming a clean energy promoter. Founded in 2012 by a renowned plastic surgeon Gagik Stamboltsyan, the private medical


Solar energy enabling the regional retail growth

26.03.2019 -

Located in the small town of Charentsavan (20,500 inhabitants) in Armenia, Ashkhen Antonyan PE was established in 2014. This unique retailer of household goods and clothing decided to put its rooftop to good use to generate energy for its heating and cooling needs. The US$ 11,700 investment enabled the company to install a solar energy


Local FMCG producer changes its approach to energy consumption

15.03.2019 -

ArmSweet is a popular confectionery brand created in 2008 by the Shant Plus company established in 1995. The products are affordable even for the lowest income families in Armenia. To cut costs and become even more efficient from an operational perspective, the management decided to invest in new Spanish chocolate glazing equipment and a German


Catering responds to increased costs by using solar energy

18.02.2019 -

With the help of leasing services provided with GEFF funding, the “Vordi Erik” company was able to respond to increasing costs, generate additional profit, and also contribute to the promotion of energy savings in Kotayk region of Armenia. The company, established in 2009 and located in Charentsavan, is in the restaurant business and tries to


Food processor with new approach to energy cost management

18.02.2019 -

Leased equipment financed by GEFF in Armenia helped the leading Armenian freight forwarding company Spayka to apply energy efficiency measures and effective cost management to their brand new blue cheese production factory. The leading Armenian freight forwarding company Spayka began exporting and trading fresh fruits and vegetables to Russia, CIS countries and Europe in 2007.


With green financing, the roads are “greener” in Armenia

03.12.2018 -

Established in 2015, Shin Plus Ltd, a local company that constructs roads countrywide. The performance of equipment and its operating costs make a big difference in terms of attracting business. Therefore, the company decided to invest in an energy-efficient soil compactor and at the same time took advantage of a competitive leasing scheme provided by


Energy efficiency brings Armenian pastry brand closer to its customers

27.11.2018 -

Established in 2000 and located in a suburb of Yerevan, “Zeytun Sweet” has been steadily growing its pastry business and investing in energy efficient technologies. This time the company decided to invest in fuel-saving trucks in order to reduce the daily costs of distribution, at the same time the selected high-performance truck model would spare


Energy efficiency helps Armenian roses blossom

13.03.2018 -

Established in 2012 and located in the central Kotayk region of Armenia, this cultivator of roses is already one of the world’s five largest greenhouses using heating and irrigation technology of its kind. The company decided to invest in energy efficient heating and irrigation systems in order to increase the productivity and decrease the total


Solar energy for a healthy lifestyle in Armenia

29.08.2017 -

Grand Sport, a sports and wellness centre which meets international standards, rose to a new level of efficiency by investing in high-performance water heating solar technologies. Founded in 2011 and located in the suburbs of capital city Yerevan, Grand Sport is famous for providing quality services to professional sportsmen as well as to healthy lifestyle


Hatching opportunities with energy efficiency

22.03.2017 -

Energy-efficient equipment halved electricity consumption and helped the Masis Poultry factory to concentrate on its main business. The poultry company, established in the country’s central region, was producing egg trays with local equipment. To meet production needs, the company sometimes also imported ready-made egg trays from Georgia, which was cost-inefficient and difficult to manage from


Textile industry secures high energy savings

17.11.2015 -

Lentex LLC, located in Gyumri, is the only Armenian factory producing a full range of socks and hosiery – more than 100 products of different colour and size, for people of all ages, and for different seasons. To meet international business standards, the company has implemented environmental, quality assurance, staff development and community policies. Suffering


Energy efficient label production in Armenia

30.07.2015 -

Many Armenians see the products of Nor Astgh LLC every day – the company produces a wide range of plastic wrapping and labels for food containers, e.g. for milk, ice cream and many more. After the production equipment was destroyed by fire, the company decided to replace it with more energy-efficient equipment and approached GEFF


Energy efficient glass production in Armenia

22.03.2015 -

Profal LLC is one of the leading companies in Armenia, manufacturing various glass and metal constructions, interior and facade solutions, furniture, automatic gates, protection blinds, mineral fibre hanging ceilings, flooring, roofing and other products. It is a large importer and is the official representative of almost fifty European companies and brands. To maintain its high


Almost doubled efficiency with new compressors

22.03.2014 -

GAOM Group provides compressed natural gas for cars at substations in Yerevan, Armenia. The average annual production is around 6 million m³ of compressed natural gas, making the company one of the biggest suppliers in the region. The existing equipment was outdated, as it was compressing the gas in two stages. Moreover, the company was


Energy efficient greenhouse saves power and money

12.12.2013 -

High energy consumption was a burden for Alternative Energy LLC, an Armenian vegetable producer located in the village Dzoraghbyur, 10 km from the capital city. With a total greenhouse area of 4.5 hectares, the company produces 4,500 tonnes of tomatoes and cucumbers per year, mainly for the internal market. Greenhouses require a lot of energy


More efficient plastic container production

15.11.2013 -

The Armenian company Hytex Plastic CJSC and its Georgian subsidiary Alfa Pet LLC are the largest producers of plastic containers and preforms for plastic bottles in both countries. The company decided to replace its over the 20-year-old Armenian production line, used only for the export of preforms to Georgia, with a new line in Georgia