$40M TO IMPROVE ELECTRICITY ACCESS IN ARMENIA
Energy Live News
July 4 2014
Jul 05, 2014 Priyanka Shrestha
The World Bank has approved an additional loan worth $40 million
(£23.3m) for a project that aims to improve access to electricity
in Armenia.
It will cover the cost of the rehabilitation of three substations
for the nation’s power transmission network.
The average age of Armenia’s power transmission assets is around 45
years and most of them have not undergone any major upgrade in the
past decades, according to the Bank. Some of the substations have
equipment that was commissioned in the 1930s.
Jean-Michel Happi, World Bank Country Manager for Armenia said:
“The rehabilitation of the targeted substations will improve power
system efficiency and reliability and bring direct benefits to all
power consumers in Armenia.
“This would allow avoiding increased incidence of power supply outages
as well as associated significant social and economic costs.”