Tuesday, February 14 2017 16:47

ArmInfo. Armenia is  negotiating with Italian RENCO company on construction of a second  combined-cycle unit at the Yerevan TPP, Director General of Yerevan  TPP CJSC Sasun Khachatryan said at today's meeting of the Investment  Commission headed by Armenian Minister of Energy Infrastructures and  Natural Resources Ashot Manukyan.

He said that the project is preliminarily estimated at $230 mln.  Khachatryan added that 18 mln USD will be spent on modernization of  the electric substation of the Yerevan TPP. 

To note, the new unit of the Yerevan TPP may be built within the next  3-4 years. Earlier it was reported that Armenia was negotiating with  Japan to attract loan funds.  ArmInfo previously reported that under  the WB Electricity Transmission Network Improvement Project (ETNIP)  for Armenia, a contract was signed with the general contractor of the  project - AB SUBSTATIONS AND COBRA INSTALACIONES Y SERVICIOS S.A.  (Sweden/Spain) - on 19 July 2016 on construction of a new 220 KV  substation of the Yerevan TPP. The general contractor was chosen  following an international tender. The loan agreement cost is $11.3  mln, 4.7 mln EUR and 6.9 mln Swedish kronas. The construction of the  new substation will be completed within 17 months. 

The construction of the current combined-cycle unit at Yerevan TPP  was carried out with the support of JBIC, which lent 247 mln USD to  Armenia. The loan was provided for 30 years with a 10-year grace  period.