Construction of third solar power plant kicks off in Armenia
YEREVAN, March 15. /ARKA/. Construction of a third integrated solar power plant with a capacity of up to 1 MW kicked off a few days ago in the southern Armenian province of Vayots Dzor, the Ministry of Energy Infrastructure and Natural Resources said today.
At the end of last year, acting on a proposal of the Ministry of Energy Infrastructure and Natural Resources, Armenia’s Public Services Regulatory Commission (PSRC) set a tariff for solar power plants with a capacity of up to 1 MW. The decision, according to officials in the ministry, has increased interest in this sphere significantly.
It is expected that in the near future the number of such power plants will grow. According to preliminary calculations, construction of a power plant takes up to a year. The investment cost is estimated at $1 million. Interest in building solar power plants in Armenia is shown by both local and foreign investors.
A $58 million worth program designed to boost alternative energy sources in Armenia kicked off in 2015 summer. The 6 year program is being handled by the Renewable Energy and Energy Efficiency Foundation with the support of the Climate Investment Funds, the ministry of energy infrastructure and natural resources, as well as with the assistance of the World Bank and the Asian Development Bank.
The main stage of activities will start in 2017. When it is completed Armenia is expected to have solar power plants with the total capacity of 40-50 MW, which will be ready for operation by 2020. -0-