Armenia Will Attache Great Importance To Adopting The Renewable Energy Potential
07 Jan, 2019

Armenia, by not having its own fuel-energy resources, attaches great importance to using the potential of renewable energy. With this goal, the new government will  prioritize the development of renewable energy in economic progress.

All steps, including the improvement of the legislative field, predictable tariff policy and works with investors, will be aim for this. A favorable environment is being created for investments in the sector, which will result in increased levels of energy security and independence of the country.

Armenia is monitoring the regional development trends of the energy sector in order to effectively realize competitive advantages and for mutually beneficial cooperation to be established with other countries of the region.

During 2018, the government has kicked off the gradual liberalization process of the country's electricity market, which will enable the access of major consumers, suppliers and traders into the market. Energy saving and energy efficiency are also among the government's priorities.

In this context, the Armenia-Iran and Armenia-Georgia high voltage electricity line construction programs will continue, the commissioning of which will have positive impact on economic development of the country.

On the other side, the European Bank for Reconstruction and Development (EBRD) is interested in the implementation of new projects in renewable energy segment of Armenia for the year 2019, head of the EBRD Armenia Office Dimitri Gvindadze told reporters during the Energy Week of Armenia - 2018 event.

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.

New cabinet should also work with civil society to promote more and more energy-efficient and energy-saving technologies; Government must create enabling policies for CSO participation and their involvement to execute any strategic plan. Getting their voices involved in the process can eventually lead to greater consumer interest. On their end, CSOs must make an effort to understand the environmental and economic benefits of energy efficient appliances. They are critical communicators in explaining these benefits to consumers. 

Currently Armenia should contribute with different stakeholders, donors, organizations to plan for its energy independence by adopting multi projects; this should be the main objective of the year 2019.

The aim of the upcoming projects, is to make Armenia's energy sector attractive to investors, enhancing the area's transparency, accountability and competitiveness.

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