Energy Live News
Feb 13 2013


EBRD provides $25m for hydropower in Armenia

Posted on 13 February 2013 by Priyanka Shrestha

A $25 million (16m) loan from a London-based bank is set to help
finance the rehabilitation of seven hydropower plants in Armenia.

The European Bank for Reconstruction and Development (EBRD) will
provide the loan to the International Energy Corporation in a bid to
support investment in the generation of renewable energy in the
country.

Located along the Hrazdan river, the plants of the Sevan-Hrazdan
Cascade is believed to be an essential part in Armenia's electricity
network. With a total installed capacity of 565MW, it provides 10% of
Armenia's electricity every year and the water channels supply enough
water to irrigate 70% of the country's agricultural land.

Nandita Parshad, Director of Power and Energy for the EBRD said: `It
will be implemented using the latest technologies which will not only
increase the production of clean electricity in Armenia but will also
significantly reduce the volume of water currently lost through
dilapidated channels.'

The EBRD has invested more than 613 million (393m) in Armenia to
date and signed 15 projects worth a total of 94 million (60.3m) last
year.

http://www.energylivenews.com/2013/02/13/ebrd-provides-25m-for-hydropower-in-armenia/