RENEWABLE ENERGY FUND DESIGNS $18 MILLION WORTH ROAD MAP
/ARKA/
JUNE 27, 2011
YEREVAN
YEREVAN, June 27. / ARKA /. The Armenian Renewable Resources and
Energy Efficiency Fund has worked out the first $18 million worth
“road map” for developing this sector, Tamara Babayan, head of the
Fund, said Saturday during a seminar on the problems of this sector.
She said it had taken four months to develop the program, which is
part of the World Bank-funded program on development of renewable
energy. The budget of the program consists of two components – the
loan component -$15 million and a grant component- $3 million.
“The goal of the program is to identify the potential of this sector,
its economic feasibility, as well as to provide information about
this sector to possible investors, government and international
organizations,’ -said Babayan.
The program coordinator, Ara Marjanian, said 124 leading experts from
many countries had been recruited to help develop the program. He
said it has short, medium and long term objectives. According to him,
production of electrical power from renewable resources may grow
fivefold by 2010.
In 2010 Armenia generated 310 GWh of power from renewable resources.
In 2015 this figure may reach 740 GWh and 1,500 GWh, in 2010,
Marjanian said.
Armenia Renewable Resources and Energy Efficiency Fund started its
operation since November 2005. It implements grant and credit projects
targeted at the development of Energy Efficiency and Renewable Energy
sectors in Armenia.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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