Freenergy

What Freenergy does

Freenergy LLC is a Yerevan, Armenia-based solar engineering, procurement, and construction (EPC) company founded in 2012, operating with 1-10 employees. The company designs, installs, and services photovoltaic (PV) and solar thermal systems for residential, commercial, agricultural, healthcare, educational, and community customers across all Armenian regions and Artsakh. Core offerings include on-grid, off-grid, and hybrid PV stations ranging from 3 kW residential units to multi-megawatt commercial and utility installations, alongside thermosiphon, split, and pressure-coil solar water heating systems, and a proprietary hybrid PV-T panel that co-produces electricity and 40-70°C hot water while boosting PV efficiency 20-50%.

The business model combines one-time hardware sales (PV panels, water heaters, outdoor solar lighting, pool ionizers) through a Yerevan office and e-commerce shop, project-based EPC services (design, installation, commissioning, up to 10 years of free warranty service with 25-year manufacturer warranties on equipment), and financing intermediation via partnerships with ArmLeasing and the R2E2 Fund that offer 10% APR leases for up to 8 years. A significant share of large-scale installations is funded by international development partners including the European Union, the Embassy of Japan, the Austrian Development Agency, and UNIDO, providing both project pipeline and credibility signals. As of the most recent data, Freenergy reports 1,600+ installed stations, 6,900+ kW of capacity added in the last two years, and 248,425,000 AMD in cumulative customer savings.

Name

Freenergy

Legal name

Freenergy LLC

Website

https://freenergy.am

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Freenergy LLC is an Armenian solar EPC company founded in 2012, designing, installing, and servicing photovoltaic and solar thermal systems for residential, commercial, agricultural, and community customers across Armenia and Artsakh via direct sales, e-commerce, and ArmLeasing financing.

Ownership category

akta.pro rank

Product category

Solar Energy EPC Services

akta.pro primary industry

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Solar PV systems
• Solar thermal heating
• Solar EPC services
• Renewable energy installation
• Hybrid solar systems

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Solar Equipment Sales: Direct sales of solar hardware including PV panels, solar water heaters, lighting products, projectors, and accessories through their online shop and physical office. One-time purchase model with customers buying complete solar stations and thermal systems.
2. Design and Installation Services: Professional solar system design, installation, and commissioning services provided by qualified engineers. Includes site assessment, custom project planning, and installation of complete solar energy systems.
3. Maintenance and Warranty Services: Free warranty service for up to 10 years on installed systems, with 25-year warranties provided by manufacturers on solar and thermal equipment. Ongoing maintenance services for commercial and residential customers.
4. Financing Intermediation: Partnership with ArmLeasing and R2E2 Fund enabling leasing arrangements for customers. The company facilitates financing options with preferential terms including 10% annual interest rates, up to 8-year terms, and low down payments.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Freenergy is a solar energy engineering, procurement, and construction (EPC) company that designs, supplies, installs, and services photovoltaic (PV) stations, solar thermal water heating systems, and proprietary hybrid PV-T systems for residential and commercial customers in Armenia. It also operates a small online retail shop selling solar accessories such as projectors, garden lights, wall lamps, pool ionizers, and cameras, and partners with banks to offer consumer financing for installations.

Product overview

Freenergy offers a unified portfolio of solar energy solutions centered on photovoltaic (PV) electricity generation and solar thermal water heating. The core product line includes on-grid, off-grid, and hybrid PV stations (ranging from 3 kW residential to 1+ MW commercial/utility scale), alongside a full range of solar thermal stations (thermosiphon compact, split, and pressure coil systems). A differentiating innovation is the Solar-Thermal and PV Hybrid System, which combines both energy types in a single panel. The portfolio extends to outdoor solar lighting products (projectors, garden lights, wall lamps, and security lights), a solar pool ionizer, and comprehensive services covering individual project design, professional installation, and long-term warranty maintenance. Financing options are available through partner financial institutions.

Differentiator

Problem solved

Functional benefit

Brands

• EcoLeasing / ArmLeasing Special Terms: Solar installation financing program offered in partnership with Armenian Leasing Company UCO CJSC and R2E2 Fund, offering up to 50 kW solar PV plants with 10% annual interest rate, terms up to 8 years.

Products and services

• Photovoltaic (PV) Solar Stations Turnkey solar PV stations available in on-grid, off-grid, and hybrid configurations, designed and installed for residential (up to 150 kW) and commercial (up to 500 kW) customers in Armenia seeking electricity generation and energy independence.
• Solar Thermal Water Heating Systems Solar thermal systems that heat water using solar energy, designed for residential and commercial hot-water needs, integrated with Freenergy's design, supply, and installation services.
• Hybrid PV-T (Photovoltaic-Thermal) System Proprietary combined system that generates both electricity and thermal (hot water) energy from a single rooftop installation, maximizing energy yield per square meter for residential and commercial customers.
• Solar Project Design, Installation, and After-Sales Service End-to-end engineering, procurement, and construction (EPC) service covering technical-economic study, system design, equipment supply, on-site installation, and after-sales maintenance with a 10-year warranty, available to all customer segments.
• Partner-Bank Solar Financing Mediated consumer financing for residential and commercial solar purchases, arranged through partner banks to make solar systems affordable via installment payments.
• Freenergy Solar Accessories Online Shop Direct online retail channel selling Freenergy-branded solar-powered accessories (e.g., 50W solar projector, D4 garden light, camera design solar light, WD4 wall lamp, solar pool ionizer) to individual consumers.

Quantifiable outcome

• 248,425,000 AMD in customer savings from free solar energy
• +5 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Risen EnergycoreTechnology or IntegrationSupplier of solar panels for Freenergy installations. Risen Energy is a Chinese manufacturer providing high-quality solar photovoltaic modules used in systems from 70kW community projects to 530kW commercial installations.
• GrowwattcoreTechnology or IntegrationSupplier of inverters for solar PV systems. Growwatt inverters are used across Freenergy's project portfolio including 70kW, 530kW, and 505kW installations for converting DC to AC power.
• Diaconia Charitable FundmajorImplementation/ SI/ Consulting PartnerInstalled 150kW solar PV system (382 panels, 2x60kW inverters) for Diaconia office and dental clinic in Talin.
• Areg Charitable FoundationminorStrategic or Co-development PartnerPartnership for Vardenis community project with support from Auvergne-Rhône-Alpes region of France, Armenian Friendship Union of Romans, FAARALP, and Lions Club France.
• Kaza Swiss Humanitarian FoundationminorStrategic or Co-development PartnerPartnership through 'AREF' (ARMenian Engineering Faculty) 5-week technology training program for youth in electrical engineering and energy sectors.
• Sevan CollegeminorStrategic or Co-development PartnerConcluded internship contracts with three graduates of the AREF solar technology training program at Sevan College.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Others

• Growwatt: Chinese inverter manufacturer whose string inverters are deployed across Freenergy's portfolio, including the 70kW, 530kW, and 505kW projects. Comparable as a key component supplier whose product capabilities (e.g., 98.5% efficiency) directly enable Freenergy's installation specifications.
• Risen Energy: Chinese tier-1 solar panel manufacturer that supplies the PV modules used in Freenergy's largest installations (70kW to 530kW). Comparable as a critical upstream supplier whose product roadmap and pricing directly shape Freenergy's cost structure and product offering.
• JA Solar Technology: Major Chinese tier-1 PV module manufacturer with global distribution. Comparable as an alternative panel supplier for residential and utility-scale projects, particularly relevant to the 70kW to 1MW project range that Freenergy targets.
• Hanwha Q Cells: South Korean-headquartered tier-1 solar panel manufacturer with strong presence in European and emerging markets. Comparable as a panel supplier competing for the same utility-scale and commercial EPC contracts that Freenergy executes.
• Trina Solar: Global tier-1 solar panel manufacturer with strong presence in utility-scale and commercial PV. Comparable as an alternative panel supplier whose product pricing and availability shape the competitive landscape for EPC installers like Freenergy.
• LONGi Green Energy: World's largest mono-crystalline silicon wafer and panel manufacturer. Comparable as a high-volume panel supplier whose technology roadmap (TOPCon, HJT, BC cells) sets the efficiency benchmark that Freenergy's hybrid PV-T system must compete against.
• Enphase Energy: US-listed microinverter and battery company whose energy systems are a default residential solar component globally. Comparable as a potential alternative inverter supplier whose integrated storage/monitoring features (IQ Battery, IQ8) compete with the storage integration Freenergy offers with off-grid and hybrid systems.

Broad incumbents

• Sunrun: Largest US residential solar installer offering rooftop PV, battery storage, and financing/leasing to homeowners. Comparable to Freenergy in residential solar installation, financing intermediation, and long-term service warranty model, though at vastly greater scale.
• Tesla Energy: Solar roof and Powerwall storage offering from Tesla, integrating PV, battery storage, and energy management. Comparable to Freenergy's hybrid PV-T thesis of combining generation and storage in an integrated residential system, though Tesla operates at vastly larger scale.
• SunPower (now Complete Solar): US-based solar company offering residential and commercial PV systems with industry-leading 25-year equipment warranties — directly mirroring Freenergy's 25-year manufacturer warranty positioning. Comparable in product mix and warranty-led value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/freenergy_armenia
• Facebookfacebook.com/freenergyarmenia
• LinkedInlinkedin.com/company/freenergy-llc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Freenergy