The first floating solar station in the South Caucasus will be installed on Yerevan Lake. The decision to permit construction was adopted at a meeting of the Armenian government. The project will be implemented by the French engineering company NEPSEN and the Renewable Energy Fund of Armenia at the expense of the private sector support program of the French Ministry of Finance and Economy (FASEP), since the equipment will be imported from France. In recalculation, the volume of investments will amount to 90 million AMD.

Imported equipment will be exempt from customs duties. As part of the project, several reservoirs were studied, as a result, the choice fell on the Yerevan Lake (a reservoir on the Hrazdan River in the city of Yerevan).

The power of the station will be slightly more than 150 kW. According to the government program, by 2030, the share of solar energy in national generation is scheduled to be increased to 15%.