Supporting renewable energy development in Armenia is yet another strategic priority for EBRD- Elisabetta Falcetti

YEREVAN, November 26. /ARKA/. Supporting renewable energy development in Armenia is yet another strategic priority for the EBRD, EBRD Managing Director for Turkey and the Caucasus, Elisabetta Falcetti s said in an exclusive interview with the ARKA news agency.

She said one of the landmark projects is Masrik Solar power plant, the first utility-scale solar power plant in Armenia, which is also the first in the Caucasus. The project is almost complete and once connected to the Armenian electricity grid it will significantly boost Armenia’s supply of renewable energy and while reducing its reliance on imported fuels.

Earlier this year EBRD, with fellow financial institutions (DEG, Proparco) approved financing for 200MW Aug-1 Solar Power Plant to be developed by Masdar.

'This project, once implemented, will play a significant role in Armenia’s energy security and we look forward to being part of this important journey,' she said.

'During my visit (to Armenia earlier this year), it was very encouraging to see some of the 87 new inclusive and environmentally friendly buses in the streets of Yerevan. This project is part of EBRD Green cities initiative, and we look forward to supporting further greening of Yerevan, Falcetti said.

'So many more interesting and important projects, for example supporting one of the most unique concepts in the ITC sector the Tumo centre for creative technologies. While financing construction of their the new EU – Tumo Convergence Center, we have also mobilized donor funding to support reskilling and upskilling of refugees, using Tumo’s highly successful model, she added. 

The EBRD is one of the leading institutional investors in Armenia. During its operation in Armenia, it has invested 2.4 billion euros in 220 projects in areas such as energy, infrastructure, telecommunications, and finance. -0-