The Energy Week Armenia 2018 three-day investment forum kicked off in Yerevan on November 14.
The organizers are the Renewable Energy and Energy Efficiency Fund of Armenia and Invest In Network, while over 300 representatives of foreign and local government agencies, the private sector, international organizations, investors, diplomatic corps, and experts take part in the event.
The aim of the forum is to present latest developments in the renewable energy area in Armenia as well as investment opportunities, technologies, engineering solutions and promising projects.
Foreign countries' ambassadors, heads of international organizations, foreign investors and experts as well as representatives of state-governing agencies attended this important forum.
During the opening ceremony acting deputy prime minister of Armenia Tigran Avinyan introduced the government's goals in the energy field to the forum participants.
"The participation of large numbers of experts and investors to the Energy Week shows the interest which has been formed towards the development of energy sector in Armenia.
Armenia attaches great importance to the development of renewable energy. All our actions are directed for this purpose. We are creating favorable environment for investments in energy field. We are following the regional development solutions in the energy sector in order to establish mutually beneficial cooperation with the remaining regional countries. We will continue the cooperation with Iran and Georgia.
"Transition to the new model of energy market will allow large consumers and suppliers of electric energy as well as traders to come to the market, and it will also create environment for inter-state trade" Avinya said.
In his words, Armenia will continue building Armenia-Iran and Armenia-Georgia high-voltage lines; Their launch will have a positive impact on the Armenian economy. The construction of the 400-kV Armenia-Iran high-voltage line is being carried out by Iran's Sunir Company and is being financed by the Iranian government.
"The government has launched the liberalization process of the energy market by stages which will enable the major consumers, energy suppliers to have an access to the market. This will allow opening the field and making it international. This will create an opportunity for inter-state trade. Sustainable, smart energy is one of the preconditions for the dynamic development of the economy. The Armenian government is open for all kind of collaboration and cooperation, and we promote dialogue and active engagement in all spheres", the acting deputy PM noted.
During his speech the Acting minister of energy infrastructures and natural resources Garegin Baghramyan said that the junction status will provide Armenia wide investment opportunities, he talked also about the strong Armenian energy cooperation with specific countries like Iran and Georgia.
"The energy field in Armenia has recorded significant and remarkable achievements in recent years. By the support of international financial organizations the high-voltage power stations almost completely have been upgraded. We are conducting a productive cooperation with our neighbors, Iran and Georgia."
He concluded "The energy system of Armenia is a bridge that connects the energy systems of the countries of the Eurasian Economic Union and Iran; this will give Armenia wide opportunities for implementation of investment projects."
He added "We attach special importance to the development of renewable energy. According to research, Armenia has great potential for creation of solar energy. The Armenian government will create all the opportunities for the world organizations to be engaged in the renewable energy field".
The European Bank for Reconstruction and Development (EBRD) interested in new projects in renewable energy segment of Armenia
EBRDis interested in the implementation of new projects in renewable energy segment of Armenia, head of the EBRD Armenia Office Dimitri Gvindadze told reporters during their strong presence in the forum.
According to him, the financial sector is a priority for the EBRD in Armenia, since the partner network of European bank covers 2/3 of the Armenian banking system.
Nevertheless, one of the cores of the EBRD cooperation with Armenia is the energy sector, he noted.
"We are actively cooperating with the Electric Networks of Armenia CJSC and are co-financing the Masrik-1 industrial project for the construction of a solar power plant," Gvindadze added.
Touching upon Talin-2 initiative, the chair noted that EBRD intends to consider and take part in it with the end of discussions already at the stage of making substantive decisions.
According to him, the Bank's active portfolio in Armenia is equal to 300 million euros, while the volume of operations in the country since the start of operations exceeds 1 billion euros.
"About 90% of our portfolio is in the private sector. This is the difference of our bank from other financial organizations. Every year, we conduct operations amounting from 70 to 130 million euros, and this year we have actually fulfilled the plan by 100%," Gvindadze concluded.
As reported earlier, an international consortium of two companies - Spanish Fotowatio Renewable Ventures B.V and the Dutch FSL Solar S.L - won the tender for the construction of the Masrik-1 solar station with a capacity of 55 MW.
Find the day1 Program:
09:30 Morning briefings
10:00 Business breakfast
11:30 Ministerial plenary
14:00 Project presentations
16:00 Transmission and storage
19:00 Gala Dinner
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