EBRD: Armenia has great potential in development of solar energy

YEREVAN, January 18. /ARKA/. Armenia has great potential when it comes to the development of renewables, in particular solar energy, and we want to help Armenia scale up its renewable energy generation,

European Bank for Reconstruction and Development (EBRD) Vice President Mark Bowman said in an exclusive interview with ARKA news agency. .

He said EBRD has been working with the government of Armenia on financing electricity networks, private generation and privatization.

‘We have also improved the regulatory and institutional framework for sustainable energy. Consequently, Armenia now allows solar energy producers to sell excess electricity to the national electricity grid,’ he said..

He recalled that the government’s Energy Sector Development Strategic Plan 2040 includes development of up to 1,000 MW Solar capacity by 2030 and up to 500 MW Wind capacity by 2040. Over the past few years, the government has also improved the public private partnership law.

‘We stand ready to further support these initiatives, which will undoubtedly increase energy independence of the country and contribute to grow the private sector and attract foreign investments,’ he said.

You can read the interview in full  here. -0-