In next few years, losses in "Electric Networks of Armenia" will be brought up to 6.5%

ArmInfo. Yerevan. In the next few years, losses in the "Electric Networks of Armenia" will be brought up to 6.5%. The Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia Ashot Manukyan stated this on March 21, answering the request of the opposition faction "Elk".

According to him, four years ago the losses of electricity were 14.5%, now they are already equal to 8.8%.  Thanks to the investment program implemented in "Electric Grids of Armenia", the losses will be reduced to the maximum possible volumes, which will be the biggest achievement even in comparison with international practice.

On July 4 2017, the Board of Directors of the Asian Development Bank approved a credit program providing for the issuance of a loan to Electric Networks of Armenia in the amount of $ 80 million.  According to the ADB, the funds will be used to improve distribution networks and improve energy security. "Earlier, at a press conference in Yerevan, responding to a question from ArmInfo, the general director of "Electric Networks of Armenia" CJSC Karen Harutyunyan reported that the company intends to attract from the Asian Development Bank and the European Bank for Reconstruction and Development a total of $ 160 million to implement its investment program, calculated up to 2020. According to him, preliminary documents have already been signed with the financial structures, and finally the agreements will be signed at least a month later.

Electric Networks of Armenia was established in May 2002 as a result of the merger of four state regional electricity distribution and distribution companies: Yerevan Electric Networks, Northern Electric Networks, Southern Electric Networks and Central Electric Networks.