President: "In coming years, we are planning to dramatically increase the share of renewable energy in the general energy balance sheet"

ArmInfo. "As one of the most  important areas of the Armenian economy, the energy area in recent  year has registered substantial achievements. The works conducted in  this area are aimed at raising the level of the energy security of  Armenia, providing dependable and uninterrupted services," Armenian  President Serzh Sargsyan said on January 25 during the opening  ceremony of the Energy Week-2017, which is conducted in the framework  of the Solar Energy Investment Conference. .  

The press office of the Armenian President quotes Serzh Sargsyan as  saying, "With the assistance of the international financial  institutions, the high-voltage substations of structural importance  have been almost totally renovated. Constant and persistent  activities aimed at the creation of new capacities, construction of  new power lines, and introduction of new technologies are being  carried out in this area. In the regional context, we are efficiently  cooperating with our neighbors - the Islamic Republic of Iran and  Georgia. Armenia-Iran and Armenia-Georgia power lines will be put  into operation in 2019, which will allow to elevate the energy system  of Armenia to a qualitatively new level. The implementation of the  mentioned above programs will allow to carry out the transit of  energy power, seasonal sub-flows and swaps, as well as other  commercial deals.     As a member of the Eurasian Economic Union, Armenia can become a  unique bridge between the Islamic Republic of Iran and the Eurasian  Economic Union. This factor creates excellent opportunities for the  implementation of various investment projects by the state as well as  private sectors.     In the long-run, the economies based on "green" principles are more  promising and stable. For that very reason, in the development  strategy of this particular area, we especially stress the importance  of the development of the renewable energy such as solar, wind,  thermal and hydro energy.     According to numerous of scientific explorations, Armenia possesses a  great potential for the development of solar energy. In order to  create an attractive milieu for the investors, in recent period of  time we have implemented a number of legislative reforms, using the  best world practices.  It is necessary to note that in recent years  the cost of technologies for solar photovolt panels has decreased by  nearly 80%. For that very reason, compared to other technologies for  energy production, the industrial-scale technology for solar  photovolt panels has become competitive.  The preliminary studies  show that thanks to these modern technologies currently it has become  possible to get a competitive price for solar photovolt panels which  in turn will allow to avoid negative impact on the set energy price  for the ultimate consumers.     Thus, the world famous companies have every opportunity to  participate at the tenders in Armenia and to build great capacity  solar photovolt panels.  In coming years, we are planning to  dramatically increase the share of renewable energy in the general  energy "balance sheet" through the construction of solar, wind, and  thermostations." 

The Conference is organized by Armenia's Renewable Resources and  Energy Efficiency Fund and the Expomedia Center of Exhibition  Projects.