IFC, a member of the World Bank Group, has presented recommendations on improving the design and construction of small hydropower plants in Armenia. The results of a recent study will help developers meet international standards and improve the efficiency of small hydropower plants.
The IFC Armenia Sustainable Energy Finance Project assessed the design and construction of a number of small hydropower plants in Armenia to identify areas for improvement. It provided recommendations to address issues such as the quality of construction materials, discrepancies between design and construction, and the quality of electrical installations, aimed at improving the reliability and security of small hydropower plants.
“The results of IFC’s assessment will be valuable both for designers and project developers,” said Tigran Parvanyan, IFC Armenia Sustainable Energy Finance Project Manager. "Following IFC’s recommendations should increase the feasibility and efficiency of small hydropower projects, which will ultimately contribute to energy self-sufficiency of Armenia.” IFC presented the key findings of the study in a two-day seminar that brought together renewable energy experts, project developers, representatives of companies involved in the design, construction, and operation of hydropower plants, as well as representatives of the Ministry of Energy and Natural Resources, Public Service Regulatory Commission, and other stakeholders.
The IFC Armenia Sustainable Energy Finance Project aims to establish a sustainable market for energy efficiency and renewable energy investments and contribute to the energy self-sufficiency of Armenia. The project, launched in January 2010, is supported by the Austrian Ministry of Finance. It is part of a broader IFC initiative in Europe and Central Asia to help companies and governments become more resource efficient and stimulate investment into renewable energy. Since Armenia became a member of IFC in 1995, IFC has invested $110 million in 24 projects across industries, including financial markets, general manufacturing, and mining. IFC Advisory Services provide advice through projects focusing on the financial sector, sustainable energy, and investment climate regulatory simplification.
