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Solar energy for a healthy lifestyle in Armenia

Investor
"Grand Sport" LLC
Location
Yerevan, Armenia
Investment
Solar thermal power plant
Investment Size
US$ 384,000
Impact
Cost reductions, increased environmental and sustainability commitment
Donor
EU4Energy, Austrian Federal Ministry of Finance

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 seekers of all ages.

The motivation to invest in energy-efficient technologies was not just to cut costs, but also to become a pioneer for change in everyday business mentality.

The financial analysis and calculation of the potential energy savings, as well as the technical assessment, were provided by the local financial institution and technical teams.

The US$ 384,000 investment allowed the company to install a thermal power plant with a peak heat capacity of 1.5 MW in order to address the cost of heating water at the facility. The system heats two swimming pools (one of which is Olympic size) and provides the hot water required in all other areas. Grand Sport serves 600-800 customers every day.

“At the time of construction, the Grand Sport solar thermal power plant was the largest in the Caucasus region. As well as reducing our CO2 emissions, we are happy that we now definitely meet the international standards for energy-efficient sports and wellness complexes,” affirms the director, Siranush Harutyunyan.

This project was supported by EU and the Austrian Federal Ministry of Finance.

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