Thursday, August 10 2017 14:23
Naira Badalian

Head of Energy Ministry: Shnogh hydropower plant will provide 5% or more of domestic needs of Armenia

Head of Energy Ministry: Shnogh hydropower plant will provide 5% or more of domestic needs of Armenia

ArmInfo. Shnogh HPP will provide 5 percent or more of the domestic needs of the country and will strengthen Armenia's energy security, Minister of Energy Infrastructure and Natural Resources of Armenia Ashot Manukyan stated. The framework agreement between Government of Armenia, Debed-Hydro LLC and the non-public contractual investment fund "Investors Club of Armenia" on the program of construction of Shnogh HPP was approved at a meeting of the Armenian Government on August 10.

According to Ashot Manukyan, Armenian  Government provides for the maximum use of domestic energy resources to achieve the strengthening of the country's energy security. In this context, as the minister noted, Armenia does not fully utilize the resources of the Debet and Araks rivers. "This investment program is aimed at partial replenishment of this gap," he said.

Within the framework of the agreement, work is planned on the design, construction, financing of the Shnogh HPP with the installed capacity of 76 MW on the rights of possession, use and disposal of property.  The total cost of the project, according to the head of the Ministry of Energy, is estimated at $ 150-160 million and is subject to adjustment. "The main task is that within the program it is planned to build tunnels with a length of 22 km, which will significantly affect the cost of the investment program," he explained.

It is planned that the Armenian Government will assist the developer to purchase a land plot for the construction of a hydroelectric power station. The developer undertakes to carry out construction work on this object. For at least 20 years from the date of commissioning Shnogh HPP, the Armenian government undertakes to guarantee the purchase of at least 500 million kWh of energy from Electric Networks of Armenia JSC annually.

Ashot Manukyan reminded that the program of construction of the Shnogh hydroelectric power station was developed in the 60s of the last century. In 1998, with the financial assistance of USAID, the Armenian government prepared a feasibility study for the project. In the years 2007-2011. The executive power decided to build a hydroelectric power station without attracting public funds - on the basis of private investment. If approved, Manukyan said, the program will be implemented within the framework of the public-private partnership together with the "Investors' Club of Armenia" and will be the first major project of the Club in Armenia.

Earlier it was informed that the implementation of the construction project of the Shnokh hydro-electric power plant  on the Debed River will allow Armenia to increase the hydropower potential of the republic. On June 14, during the meeting with the US Ambassador Extraordinary and Plenipotentiary to Armenia Richard Mills, the Minister of Energy and Natural Resources of Armenia Ashot Manukyan, whose words are quoted by the press service of the ministry, said. According to the source, the installed capacity of the station should be 76 MW. According to preliminary estimates, the cost of the project is $ 150 million. According to the Minister, the project will give an opportunity to create new jobs in the Lori district. In his turn, the US ambassador noted the interest shown by American companies in the energy sector of Armenia. The diplomat expressed his readiness to present this project to American companies. In an interview with ArmInfo, Hayk Badalyan, head of the energy department of the Ministry of Energy Infrastructures and Natural Resources of Armenia, said that the search for investors is taking place on all the sites and levels on the Shnokh and Lori-Berdskaya HPPs. In this issue, the head of the department continued, in addition to solving technical and environmental issues, it is important to determine the possible impact of these projects on the final tariff for the consumer.

POST A COMMENT
Input digits     


News
Veolia Djur proposes to raise water tariff in ArmeniaVeolia Djur proposes to raise water tariff in Armenia
State Revenue Committee of Armenia starts active administration in  pursuance of law State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"
Armenia`s premier calls for revising economic programmes Armenia`s premier calls for revising economic programmes 
EDB to allocate $25 million to implement Armenia`s largest livestock  programEDB to allocate $25 million to implement Armenia`s largest livestock  program
Double-digit growth in economic activity in Armenia is accompanied by  surge in imports and exportsDouble-digit growth in economic activity in Armenia is accompanied by  surge in imports and exports
Armenian business forum to be held in Yerevan for second timeArmenian business forum to be held in Yerevan for second time
Production of aluminum foil in Armeniaincreased by 8% in June 2022Production of aluminum foil in Armeniaincreased by 8% in June 2022
Metallurgy industry of Armenia sums up H1 2022 with a 7% declineMetallurgy industry of Armenia sums up H1 2022 with a 7% decline
EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB 
EADB to allocate $37mln for construction of 11 solar power stationsEADB to allocate $37mln for construction of 11 solar power stations
Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%
 Further rise in food prices in Armenia  Further rise in food prices in Armenia 
Loan payoff with another bank via AppLoan payoff with another bank via App
Deputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpointDeputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpoint
Ferry communication to be launched this month - minister Ferry communication to be launched this month - minister 
Armenia is among the TOP-5 destinations for Russian tourists this  autumArmenia is among the TOP-5 destinations for Russian tourists this  autum
Austria to invest in Armenia`s SyunikAustria to invest in Armenia`s Syunik
Gyumri Breeding Station reports three-fold growth in barley output Gyumri Breeding Station reports three-fold growth in barley output 
CBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banksCBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banks
CBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increaseCBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increase
Minister: The share of the mining industry in the total volume of  Armenia`s exports has decreasedMinister: The share of the mining industry in the total volume of  Armenia`s exports has decreased
Statistical data, real situation in agricultural sector different -  minister Statistical data, real situation in agricultural sector different -  minister 
FLYONE ARMENIA launches flights to Domodedovo International AirportFLYONE ARMENIA launches flights to Domodedovo International Airport
Armenia, Iran deepen cooperation in mining industryArmenia, Iran deepen cooperation in mining industry
CBA raises refinancing rate from 9.25% to 9.5% CBA raises refinancing rate from 9.25% to 9.5% 
23.9% rise in petrol prices in Armenia in first half of 2022 23.9% rise in petrol prices in Armenia in first half of 2022 
Armenia meets Russia`s brand demandArmenia meets Russia`s brand demand
Armenia is not ready to open the land border with Turkey: ExpertArmenia is not ready to open the land border with Turkey: Expert
Armenia, Qatar discuss possible areas of bilateral cooperationArmenia, Qatar discuss possible areas of bilateral cooperation
Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022
Ardshinbank offers a new type of loan for small and medium enterprises.Ardshinbank offers a new type of loan for small and medium enterprises.
Armenia among priority partners of Austrian Development AgencyArmenia among priority partners of Austrian Development Agency
International reserves of Armenia reaches historical maximum by July  2022International reserves of Armenia reaches historical maximum by July  2022
More funds for government-sponsored medical services More funds for government-sponsored medical services 
South Caucasus Railway delivers production equipment from Yerevan to  KrasnodarSouth Caucasus Railway delivers production equipment from Yerevan to  Krasnodar
4% inflation expected in Armenia in medium-term 4% inflation expected in Armenia in medium-term 
Ameriabank leads in list of largest taxpaying banks in ArmeniaAmeriabank leads in list of largest taxpaying banks in Armenia
Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022
Over 500 Armenian servicemen to benefit from soft lending programmeOver 500 Armenian servicemen to benefit from soft lending programme
Washington to allocate $120mln to Armenia for democratic development,  economic stabilityWashington to allocate $120mln to Armenia for democratic development,  economic stability
17.1% increase in food prices significantly affected low-income  citizens of Armenia - study17.1% increase in food prices significantly affected low-income  citizens of Armenia - study
Armenia, Ethiopia consider development of cooperation in e-governance  and technology educationArmenia, Ethiopia consider development of cooperation in e-governance  and technology education
Armenian assets of GeoProMining Group of Compaines significantly  increase payments to state budgetArmenian assets of GeoProMining Group of Compaines significantly  increase payments to state budget
Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s "Gloomy and More Uncertain"  forecast
Armenia`s vice-premier hosts AMD company vice-presidents Armenia`s vice-premier hosts AMD company vice-presidents 
MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development 
Mirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relationsMirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relations
Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022
Converse Bank completes distribution of bonds ahead of scheduleConverse Bank completes distribution of bonds ahead of schedule
Armenia implements intellectual property development strategyArmenia implements intellectual property development strategy
Iran successfully expands trade with Armenia: Iran TPO headIran successfully expands trade with Armenia: Iran TPO head
Converse Bank offers new loans to SME’sConverse Bank offers new loans to SME’s
Participants of CaseKey Competition visit Team Telecom ArmeniaParticipants of CaseKey Competition visit Team Telecom Armenia
Armenia is among CNN`s 23 of the world`s best hiking trailsArmenia is among CNN`s 23 of the world`s best hiking trails
Double-digit growth of economic activity in Armenia is accompanied by  high growth rates of imports and exportsDouble-digit growth of economic activity in Armenia is accompanied by  high growth rates of imports and exports
Armenia`s wheat demand is 377,000 tons Armenia`s wheat demand is 377,000 tons 
Travel agencies offering Russian tourists to get bank cards in  ArmeniaTravel agencies offering Russian tourists to get bank cards in  Armenia
Russian restaurateurs hope for importing alcoholic beverages from  ArmeniaRussian restaurateurs hope for importing alcoholic beverages from  Armenia
Converse Bank offers mortgages for up to 100% of property purchase priceConverse Bank offers mortgages for up to 100% of property purchase price
ZCMC continues to work exclusively within the framework of Armenian legislationZCMC continues to work exclusively within the framework of Armenian legislation
Read more


Exchange rates
08.08.2022
RUB6.730.02
USD406.610.47
EUR414.38-1.26
GBP492.20-0.85
CAD315.230.08
JPY30.16-0.35
CNY60.06-0.19
CHF424.75-0.39