Wednesday, May 17 2017 11:58
Alexandr Avanesov

Deputy Minister: number of US companies interested in making investments for Armenia renewable energy development

ArmInfo.A number of  US  companies interested in making investments for Armenia renewable  energy development. This was stated on May 17  on the margins of a  day-long conference organized by the U.S. Embassy in Yerevan, in  partnership with the Ministry of Energy and Natural Resources and the  firm Contour Global, Hayk Haroutyunyan, the Deputy Minister for  Energy Infrastructures and Natural Resources.  Representatives from  some of the top U.S. renewable energy companies to met with 70  Armenian businesses to discuss how they can best partner.  

The session on May 17 allowed U.S. companies to detail their  expertise and technology for clean energy and smart electric grid  development.  "Armenia and its energy sector have grown so much over  the last 25 years. I am excited to think about what the next 25 years  will bring, knowing that it will be developed through partnerships  started here today," said U.S. Ambassador to Armenia Richard Mills,  Jr., who opened the session along with the Deputy Minister of Energy  Infrastructures and Natural Resources.  The one-day conference was  designed to strengthen the increasing commercial ties between the  U.S. and Armenia by introducing leading U.S. companies to Armenian  energy sector operators, allowing the American companies to showcase  the latest technological advances in the field.  Clean, renewable  energy is an increasing part of Armenia's Clean, renewable energy is  an increasing part of Armenia's energy sector, which has grown over  the past few years.  From 2010 to 2015, Armenian production of  electricity grew 20%, which Ambassador Mills noted was why the U.S.  Embassy sees investment opportunities in Armenia for U.S.  companies.   "As many of you know, this year we are marking 25 years of  U.S.-Armenian relations.  Twenty five years ago, I remember well  working on the issues of the newly-independent Armenia at the State  Department in Washington, D.C. Those of you old enough remember well  that in those early years of independence, Armenia's energy situation  was shaky. Outages were the norm. Trees were clear-cut to provide  heat. It was a time of true crisis," he said. "But Armenia did not  surrender to the darkness and scarcity. Instead, with the support of  friends and partners like the U.S., Armenia developed into a nation  that is able to meet its needs, and in fact able to export its excess   electricity." He highlighted the valuable work done by the Armenian  government to encourage energy diversification and clean energy  production, including a Solar Cell Investor Conference it organized  in January. And he mentioned how the U.S. has partnered with the  Armenian government, describing an exchange trip organized last month  for Armenian officials and private sector representatives to visit  experts in the U.S. to gain best practices for solar power energy  production.  Seven U.S. companies - Honeywell Building Solutions,  Honeywell Smart Energy, MacLean Power Systems, First Solar Power  Solutions, Caterpillar, General Electric and Contour Global - sent  representatives to the conference to share their experiences and to  learn about business opportunities in Armenia. The one-day program  also featured presentations by International Finance Corporation  (IFC), German Development Bank KfW, Ameria Bank, Switzerland-based  Meeco Group, and Armenian government officials.  "The Armenian  government has been leading the efforts in diversifying the nation's  energy sector into renewables and of boosting energy efficiency  programs. They have put into place mechanisms and programs enabling  the growth of Armenia's renewable and solar cell energy sectors,"  Ambassador Mills said.  "And as we have for the past 25 years, the  U.S. government will continue to be a partner with Armenia."


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