Armenia plans to attract new investors for alternative energy sector
YEREVAN, September 23. / ARKA /. The Armenian government plans to attract new investors for the alternative energy sector, deputy energy and natural resources minister Areg Galstyan said today.
He said the government has developed a long-term program for development of the energy system until before 2036, which provides for the development of solar, wind, geothermal and other forms of energy. He said the government plans also to attract soft loans for potential investors, especially that Armenia has a great potential in this field, a legislative framework and relevant studies.
Galstyan said thanks to the state support to small hydro power plants, the latter now ensure about 10% of the domestic consumption and about 8% of the total production and export of electricity.
"This is a very good result and we hope that processes in the field of alternative energy will also advance actively, ‘ he said.
An investment program worth $58 million was launched in summer, designed to boost renewable energy development. The longevity of the program is 5-6 years. It is being handled by the Renewable Energy and Energy Efficiency Fund with the support of the Climate Investment Funds , the Ministry of Energy and Natural Resources of Armenia, as well as with the assistance of the World Bank and the Asian Development Bank. The main stage of the program will start in 2017.
The main source of electricity production in Armenia today is the Armenian Nuclear Power Plant, which accounts for about 30% of the total electricity generated in the country. Thermal power plants account for 42%.-0-
He said the government has developed a long-term program for development of the energy system until before 2036, which provides for the development of solar, wind, geothermal and other forms of energy. He said the government plans also to attract soft loans for potential investors, especially that Armenia has a great potential in this field, a legislative framework and relevant studies.
Galstyan said thanks to the state support to small hydro power plants, the latter now ensure about 10% of the domestic consumption and about 8% of the total production and export of electricity.
"This is a very good result and we hope that processes in the field of alternative energy will also advance actively, ‘ he said.
An investment program worth $58 million was launched in summer, designed to boost renewable energy development. The longevity of the program is 5-6 years. It is being handled by the Renewable Energy and Energy Efficiency Fund with the support of the Climate Investment Funds , the Ministry of Energy and Natural Resources of Armenia, as well as with the assistance of the World Bank and the Asian Development Bank. The main stage of the program will start in 2017.
The main source of electricity production in Armenia today is the Armenian Nuclear Power Plant, which accounts for about 30% of the total electricity generated in the country. Thermal power plants account for 42%.-0-