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.