IMF says Armenia should pay greater attention to heat and power engineering
06.04.2016,
19:21
According to Hossein Samiei, International Monetary Fund (IMF) Mission Chief to Armenia, the authorities in Yerevan should pay greater attention to the development of heat and power engineering.
YEREVAN, April 6. /ARKA/. According to Hossein Samiei, International Monetary Fund (IMF) Mission Chief to Armenia, the authorities in Yerevan should pay greater attention to the development of heat and power engineering.
Speaking at a news conference today in Yerevan he praised the Armenian government for efforts designed to financially improve the energy companies, to increase the economic efficiency of electricity production and distribution.
He said they know that Russia is prepared to help Armenia to extend the service life of the Armenian nuclear power plant for another 10 years and that this is an option that the Armenian government could not refuse.
However, according to him, in the long term both the IMF and the World Bank consider that Armenia should shift to wider use of thermal power plants. He said this will take time.
Earlier, former Minister of Energy and Natural Resources of Armenia Yervand Zakharyan said two thermal power units will be commissioned – one in Yerevan and the other in Vanadzor, which will allow to increase the delivery of Iranian gas from the current 370 million cubic meters to 1.2 billion cubic meters per year.
The Armenian Nuclear Power Plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988. One of its two VVER 440-V230 light-water reactors was reactivated in 1995.
Armenian authorities said they will build a new nuclear power plant to replace the aging facility. The new plant is supposed to operate at twice the capacity of the Soviet-constructed facility. The plant currently generates some 35 percent of Armenia's electricity.
In March 2014, Armenian government decided to extend the plant’s service life because of delay in building a new unit. The service life extension has become possible thanks to Russia’s financial resources. The country will provide $270 million to Armenia as loan and $30 million in grants. -0-
Speaking at a news conference today in Yerevan he praised the Armenian government for efforts designed to financially improve the energy companies, to increase the economic efficiency of electricity production and distribution.
He said they know that Russia is prepared to help Armenia to extend the service life of the Armenian nuclear power plant for another 10 years and that this is an option that the Armenian government could not refuse.
However, according to him, in the long term both the IMF and the World Bank consider that Armenia should shift to wider use of thermal power plants. He said this will take time.
Earlier, former Minister of Energy and Natural Resources of Armenia Yervand Zakharyan said two thermal power units will be commissioned – one in Yerevan and the other in Vanadzor, which will allow to increase the delivery of Iranian gas from the current 370 million cubic meters to 1.2 billion cubic meters per year.
The Armenian Nuclear Power Plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988. One of its two VVER 440-V230 light-water reactors was reactivated in 1995.
Armenian authorities said they will build a new nuclear power plant to replace the aging facility. The new plant is supposed to operate at twice the capacity of the Soviet-constructed facility. The plant currently generates some 35 percent of Armenia's electricity.
In March 2014, Armenian government decided to extend the plant’s service life because of delay in building a new unit. The service life extension has become possible thanks to Russia’s financial resources. The country will provide $270 million to Armenia as loan and $30 million in grants. -0-
