ArmInfo. The World Bank, through the International Bank for Reconstruction and Development, will provide Armenia with a $40 million loan to support the Enabling the Energy Transition project, which will facilitate the implementation of the country's Energy Sector Development Strategy until 2040. The National Assembly of the Republic of Armenia is discussing the draft agreement with the IBRD, submitted for ratification by the Government of the Republic of Armenia, at a plenary session on January 22.
As Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia Kristine Galechyan noted in her speech, the agreement was signed on August 6 and 8, 2024.
The credit resources will be used to modernize the Shahumyan-2, Marash and Yeghegnadzor substations, which are on the balance sheet of High-Voltage Power Transmission Lines of Armenia CJSC.
The Shahumyan-2 substation, built in 1964, has a capacity of 250 MW. The Marash substation, commissioned in 1978, has a capacity of 375 MW.
The Yeghegnadzor substation, with a capacity of 126 MVA, was built in 1966. The equipment at these substations has been in operation for over 40 years and there is an urgent need for its modernization.
In particular, it is planned to upgrade relay protection to modern microprocessor relays, as well as to carry out restoration and construction work on reinforced concrete structures, trenches and earthen supports.
The deputy minister also reported that the credit funds are provided for a period of 25 years, 15 of which are on preferential terms. She noted that Armenia had previously attracted loans from the Asian Development Bank and KfW Bank for the implementation of similar programs.
