SMALL ELECTRIC POWER STATIONS TO BE BUILT IN ARMENIA

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.