Friday, October 20 2017 19:17

ArmInfo. In the near future, an American company to be the first to enter the Armenian market, which will be engaged in the implementation of the construction project of Shnokh HPP. Minister of Energy Infrastructures and Natural Resources of Armenia Ashot Manukyan stated this at a press conference in Yerevan on October 20.

According to him, a memorandum of understanding on the implementation of the program will be signed with the company, whose name he preferred not to reveal yet. Thus, the minister continued, the assurances of the US Ambassador to Armenia Richard Mills on the intentions of American companies to invest $ 8 billion in renewable and alternative energy sources in Armenia begin to be implemented. Ashot Manukyan recalled that the installed capacity of the Shnokh HPP project is 76 MW. At present, the work on the development of design and estimate documentation of the program is being completed.

Earlier at a press conference in Yerevan, Minister of Economic Development and Investments of the Republic of Armenia Suren Karayan informed that the "Investors Club of Armenia" Foundation is implementing two programs in the country for a total of $ 250 million. The Minister explained that it is about the construction of Shnokh HPP and the enterprise on solid waste processing. The framework agreement between the Government of Armenia, Debed-Hydro LLC and the non-public contractual investment fund "Investors Club of Armenia" on the program of construction of Shnokh HPP was approved at a meeting of the Armenian government on August 10. Shnokh HPP will provide 5 and more percent of domestic needs of the country. Within the framework of the agreement, work is planned on the design, construction, financing of the Shnokh 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 Ashot Manukyan, is estimated at $ 150-160 million and is subject to adjustment. It is planned that the Government of Armenia will assist the developer to purchase a land plot for the construction of a hydroelectric power station. The developer, however, undertakes to perform construction work on this object. For at least 20 years from the date of commissioning Shnokh HPP, the Armenian government undertakes to guarantee the purchase of at least 500 million kWh of energy from CJSC "Electric Networks of Armenia" annually.