Renewable Energy Fund designs $18 million worth road map
27.06.2011,
21:36
The Armenian Renewable Resources and Energy Efficiency Fund has worked out the first $18 million worth "road map" for developing this sector, Tamara Babayan, head of the Fund, said Saturday during a seminar on the problems of this sector.
YEREVAN, June 27. / ARKA /. The Armenian Renewable Resources and Energy Efficiency Fund has worked out the first $18 million worth "road map" for developing this sector, Tamara Babayan, head of the Fund, said Saturday during a seminar on the problems of this sector.
She said it had taken four months to develop the program, which is part of the World Bank-funded program on development of renewable energy. The budget of the program consists of two components – the loan component -$15 million and a grant component- $3 million.
"The goal of the program is to identify the potential of this sector, its economic feasibility, as well as to provide information about this sector to possible investors, government and international organizations,’ -said Babayan.
The program coordinator, Ara Marjanian, said 124 leading experts from many countries had been recruited to help develop the program. He said it has short, medium and long term objectives. According to him, production of electrical power from renewable resources may grow fivefold by 2010.
In 2010 Armenia generated 310 GWh of power from renewable resources. In 2015 this figure may reach 740 GWh and 1,500 GWh, in 2010, Marjanian said.
Armenia Renewable Resources and Energy Efficiency Fund started its operation since November 2005. It implements grant and credit projects targeted at the development of Energy Efficiency and Renewable Energy sectors in Armenia. -0-
She said it had taken four months to develop the program, which is part of the World Bank-funded program on development of renewable energy. The budget of the program consists of two components – the loan component -$15 million and a grant component- $3 million.
"The goal of the program is to identify the potential of this sector, its economic feasibility, as well as to provide information about this sector to possible investors, government and international organizations,’ -said Babayan.
The program coordinator, Ara Marjanian, said 124 leading experts from many countries had been recruited to help develop the program. He said it has short, medium and long term objectives. According to him, production of electrical power from renewable resources may grow fivefold by 2010.
In 2010 Armenia generated 310 GWh of power from renewable resources. In 2015 this figure may reach 740 GWh and 1,500 GWh, in 2010, Marjanian said.
Armenia Renewable Resources and Energy Efficiency Fund started its operation since November 2005. It implements grant and credit projects targeted at the development of Energy Efficiency and Renewable Energy sectors in Armenia. -0-
