EBRD is interested in implementing new projects in the field of  renewable energy in Armenia

ArmInfo.The European Bank for Reconstruction and Development (EBRD) is interested in implementing new projects in the field of renewable energy in  Armenia, Head of the Armenian office of EBRD Dimitri Gvindadze told  ArmInfo correspondent on the sidelines of the ''Energy Week -2018'',  which opened on November 14 in Yerevan.

He noted that the priority activity of the Bank in Armenia is the  financial sector, given that the EBRD partner network covers 2/3 of  the banking system of Armenia. And, nevertheless, as D. Gvindadze  stressed, one of the cores of cooperation with Armenia is the energy  sector. In this context, the head of the Armenian office of the EBRD  noted that cooperation is being conducted with the "Electric Networks  of Armenia", the Bank is co-financing a new project for the  construction of  ''Masrik-1'' solar energy plant with a capacity of  55 MW  for industrial use.

This project, according to the representative of the Bank, is the  first project of this type not only in Armenia, but also in the whole  region. "The purpose of today's event is to identify new projects  that the government intends to present within the framework of the  Energy Week. We are certainly interested because we are already  funding initiatives in the field of renewable energy. That is, for  us, this is not the future - this is the present. Of course, we will  continue to work in this direction. So, renewable energy will  necessarily be our priority, " the representative of the EBRD said.

Answering the question about the new project "Talin-2", D. Gvindadze  emphasized that when discussions are completed, and the stage of  making concrete decisions comes, the EBRD will consider the project  and try to take part in it.

In general, referring to the work of the EBRD in Armenia, D.  Gvindadze said that the Bank's active portfolio in the Republic of  Armenia amounts to about 300 million euros, and since the beginning  of its activities in the country, the volume of operations exceeded 1  billion euros. ''About 90% of our portfolio is in the private sector.  This is the difference of our bank from other financial  organizations. Every year we conduct operations with a volume of 70  to 130 million euros, and this year we have actually fulfilled our  plan by 100%, "he concluded.

To note, the tender for the construction of the solar station  Masrik-1 with a capacity of 55 MW was won by an international  consortium of two companies - Spanish Fotowatio Renewable Ventures  B.V and the Dutch FSL Solar S.L. The solar station Masrik-1, located  near the towns of Mets-Masrik and Vardenis in the Gegharkunik region,  is part of Armenia's National Plan for the Development of Renewable  Energy Sources. The station will have an approximate area of 100  hectares. In addition, it will generate enough energy to power about  21,400 households, while at the same time reducing greenhouse gas  emissions by approximately 54,000 tons of CO2 per year, which,  according to the company's specialists, is equivalent to reducing the  number of cars on Armenian roads by more than 20 thousand units. The  consortium offered the lowest tariff from the future solar generation  facility, which will be equal to $ 0.0419 of electricity without VAT  or 20.11 drams per 1 kW / h of electricity, which is a record figure  for the Armenian power system.

It was initially planned that the station will produce 85-90 million  kWh, however, the introduction of new technologies will increase  these volumes.

In total, within the framework of the program, it is planned to build  solar stations of industrial importance with a capacity of up to 110  megawatts in various regions of Armenia. Of the 6 locations surveyed  in two, the Spanish consulting company Aries Engineering has already  submitted feasibility studies. They relate to the Masrik-2 areas in  the Gegharkunik region and Dashtadem in the Aragatsotn region, and  research is continuing on the other four areas.

To note, the Energy Week of Armenia 2018 is the only event of the  sector, which is held under the patronage of the Government of  Armenia to demonstrate the potential of renewable energy sources and  discuss opportunities for cooperation with foreign companies. About  300 participants from 15 countries take part in ArmEnergyWeek, 40  speakers will deliver speeches.

To recall, the EBRD is an institutional investor in Armenia. Since  the start of EBRD activities in Armenia, namely, from 1992 to this  day, over 1.13 billion euros have been invested in the implementation  of 157 programs in the financial, corporate, infrastructure, energy  sectors.