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Small electric power stations to be built in Armenia

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  • Small electric power stations to be built in Armenia

    SMALL ELECTRIC POWER STATIONS TO BE BUILT IN ARMENIA

    PanArmenian News Network
    Aug 3 2005

    03.08.2005 03:35

    /PanARMENIAN.Net/ Within next few years small electric power stations
    with a capacity of 70 megawatt will be built in Armenia, RA Deputy
    Energy Minister Areg Galstian stated. In his words, investments
    totaling in $70 million will be made. At that the investments will
    be private. Various funds will be formed for the creation renewable
    energy sources. The World Bank, the European Bank for Reconstruction
    and Development, KfW Bank and Kafeschian Foundation showed interest in
    the project. To remind, June 4 during a press conference in Yerevan
    World Bank Regional Vice President for Europe and Central Asia,
    Shigeo Katsu stated that till end 2005 a $10-million credit program
    for renewable energy sources will be launched in Armenia jointly
    with the European Bank for Reconstruction and Development, UN Ecology
    Foundation and a number of local financial institutes. The funds will
    be also spent on the investigation of the possibility of using wing
    energy for electric power processing. The cost of the program can go
    up to $15 million, Express agency reports.
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