50% of new thermal power plant construction in Yerevan already completed
03.09.2020,
10:39
Giovanni Rubini, Chief Executive Officer at RENCO Spa, told Armenian Vice-Premier Tigran Avinyan that despite the coronavirus, almost 50% progress has been recorded in construction.
YEREVAN, September 3. /ARKA/. Giovanni Rubini, Chief Executive Officer at RENCO Spa, told Armenian Vice-Premier Tigran Avinyan that despite the coronavirus, almost 50% progress has been recorded in construction.
Avinyan, together with Deputy Minister of Territorial Administration and Infrastructure Hakob Vardanyan, examined the territory of a new 250-megawatt thermal power plant, which is under construction in Yerevan, the press service of the government reported on Wednesday. He got acquainted with the current work, the modern equipment the technologies used in construction as well as safety rules.
Rubini expressed hope that the plant will be put into operation in the fall of 2021.
The vice-premier said that the implementation of this program, worth about $ 270 million, is a good example for potential local and international investors. He also pointed out the role of the new plant in improving the country's energy security. It will have the highest efficiency among thermal power plants in Armenia - 54%. The impact of the plant on the environment will be minimized, and the cost of generated electricity will be the lowest, compared with other thermal power plants.
The construction of the plant started in Yerevan in July 2019, which was planned to be completed within 26 months. The planned life of the plant is 25-30 years with an efficiency of 53%. The project cos is estimated to cost more than $ 250 million.
Under the agreement, $ 42 million was provided as a loan by IFC for the implementation of the project, $ 121 million by IFC's innovative lending platform, $ 44 million by the Asian Development Bank and another $ 39 million in the form of a guarantee of RENCO by the Multilateral Investment Guarantee Agency (MIGA ). The funds were provided also by other financial institutions. -0-
Avinyan, together with Deputy Minister of Territorial Administration and Infrastructure Hakob Vardanyan, examined the territory of a new 250-megawatt thermal power plant, which is under construction in Yerevan, the press service of the government reported on Wednesday. He got acquainted with the current work, the modern equipment the technologies used in construction as well as safety rules.
Rubini expressed hope that the plant will be put into operation in the fall of 2021.
The vice-premier said that the implementation of this program, worth about $ 270 million, is a good example for potential local and international investors. He also pointed out the role of the new plant in improving the country's energy security. It will have the highest efficiency among thermal power plants in Armenia - 54%. The impact of the plant on the environment will be minimized, and the cost of generated electricity will be the lowest, compared with other thermal power plants.
The construction of the plant started in Yerevan in July 2019, which was planned to be completed within 26 months. The planned life of the plant is 25-30 years with an efficiency of 53%. The project cos is estimated to cost more than $ 250 million.
Under the agreement, $ 42 million was provided as a loan by IFC for the implementation of the project, $ 121 million by IFC's innovative lending platform, $ 44 million by the Asian Development Bank and another $ 39 million in the form of a guarantee of RENCO by the Multilateral Investment Guarantee Agency (MIGA ). The funds were provided also by other financial institutions. -0-
