YEREVAN, June 4. / ARKA /. The Armenian government has allowed today the ministry of energy and natural resources to attract loans for the repair of the second unit of the Yerevan thermal power plant.
According to minister Yervand Zakarian, the loans will be guaranteed by the facility. He did not say how much the project may cost and where the loans may come from.
The Yerevan thermal power plant was built in 1963-67. Its nominal capacity is 550 MW. Today, only one of the seven units operates.
In April 2010, a new natural gas-fired thermal power plant was inaugurated in Yerevan that allows to considerably cut back on use of natural gas for electricity production, because it is said to be twice as efficient as the plant’s decommissioned unit.
With a capacity of 242 megawatts, its gas-powered turbine is able to generate approximately one-quarter of Armenia’s current electricity output.
The state-of-the-art plant was built in Yerevan in place of an obsolete facility with a $247 million loan provided by the Japanese government through the Japan Bank of International Cooperation (JBIC).
The long-term loan was disbursed to the Armenian government on concessional terms in 2007. -0-