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Construction Of New Nuclear Power Unit In Armenia To Cost 5.2-7.2 Bi

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  • Construction Of New Nuclear Power Unit In Armenia To Cost 5.2-7.2 Bi

    CONSTRUCTION OF NEW NUCLEAR POWER UNIT IN ARMENIA TO COST 5.2-7.2 BILLION DOLLARS

    Noyan Tapan
    http://www.nt.am/news.php?shownews=117687
    Se p 24, 2008

    YEREVAN, SEPTEMBER 24, NOYAN TAPAN. A document on Armenia's joining
    the Global Nuclear Energy Partnership (GNEP) will be signed during a
    conference of GNEP in Paris on October 1, the RA minister of energy
    and natural resources Armen Movsisian stated at a September 24 event
    on presentation of the sections "Information on the Environment of the
    New Nuclear Power Unit in Armenia" and "Preliminary Planning Studies"
    which make the main part of the documents "Feasibility Study on
    Construction of a New Nuclear Power Unit in Armenia" and "Assessment
    of the Impact of the New Nuclear Power Unit on the Environment". The
    documents were developed with the assistance of USAID.

    According to the minister, the indicated documents' section on
    personnel training is being prepared with the help of the International
    Atomic Energy Agency (IAEA) and will be ready in June 2009, while
    the section on geophysical and seismological characteristics of
    the platform of the power unit to be built is being developed with
    financing of the Armenian side. The indicated documents will be
    finished in June 2009.

    The minister said that in December 2008 the Armenian government will
    submit the bill on construction of a new nuclear power unit of the
    Armenian Nuclear Power Plant (ANPP). With its adoption, the powers
    and obligations of the organizations involved in the construction of
    the new power unit will be established.

    The U.S. ambassador to Armenia Marie Yovanovitch said that it is
    planned to decommission the operating unit of the ANPP in 2016,
    and taking into account the fact that it generates 40% of Armenia's
    electric power, the replacement of the capacity of the operating unit
    is of great importance from the viewpoint of ensuring Armenia's energy
    security. This is the reason why the U.S. government assists Armenia
    with creation of new replacement capacities.

    In her words, the new power unit will open new opportunities for
    Armenia and will enable to deepen the regional energy integration
    and develop the regional energy market.

    The above mentioned main sections of the documents "Feasibility Study
    on Construction of a New Nuclear Power Unit in Armenia" and "Assessment
    of the Impact of the New Nuclear Power Unit on the Enviroment" were
    presented by Armen Arzumanian, the head of the first company of PA
    Consulting Group/ Scientech group involved in the development of
    the documents. He said that the operating nuclear power unit will
    be decommissioned in 2016 - at the end of the designed term of its
    service, in case of availability of a replacement nuclear capacity. It
    is envisaged constructing the new power unit in the area of the ANPP
    and putting it into operation in 2017.

    The construction cost of the new nuclear power unit with a capacity
    of 1,000-1,200 megawatts will make 5.2-7.2 billion USD. The only
    possible source of debt finance of the project are the export credit
    agencies of construction service and equipment supplying countries. The
    project's financing at the expense of own capital will be done with
    Armenia's state resources, and resources of private investors and a
    state-private association. Financial resources of the governments of
    Armenia's neighboring sates are another possible source of finance.

    The calculated wholesale tariff of electricity to be generated by the
    new nuclear power unit will make 7.5 cents a kilowatt if the Armenian
    government is the owner of the unit, 9.7 cents if the owner is the
    state-private association, and 12.7 cents if the power unit is owned
    by an independent investor.

    By the documents, for Armenia, the program of expansion of atomic
    energy production has no economic alternative because in case of any
    scenario of financing the construction of a nuclear power unit, the
    cost of electricity generated by a nuclear unit is much lower than
    that generated by thermal power plants with an equivalent capacity.

    From: Emil Lazarian | Ararat NewsPress
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