About Yerevan Energy Storage Power Station Project
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About Yerevan Energy Storage Power Station Project video introduction
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5 FAQs about [Yerevan Energy Storage Power Station Project]
Who financed a power plant in Yerevan?
Renco has developed a public-private partnership for the design, construction and management for 25 years of a 254 MW combined-cycle power plant in Yerevan, through project financing. The energy produced will be purchased by Armenia’s national power company. Renco, flanked by Siemens, financed 60% of ARMPOWER, for a total of 56.9 million dollars.
Why was the Yerevan Project important?
For Renco, the Yerevan project was the first important attempt to finance an international project. With the help and support of IFC, ADB and the World Bank, Renco succeeded in building an entirely new combined-cycle power plant for supplying electricity to Armenia.
Why did Armenia build thermal power stations?
Electricity production in the southern regions of the USSR with limited fuel resources was carried out on the basis of thermal energy. This is why the construction of thermal power stations began in Armenia's industrial energy centers: Yerevan (1960), Vanadzor (1961), Hrazdan (1963). Established in 1963
Why did Renco invest in the Yerevan Project?
The project in Yerevan, Armenia, proved Renco’s capacity to make its commitment to sustainability tangible, especially in strategically important projects. For Renco, the Yerevan project was the first important attempt to finance an international project.
Who buys Armenia's Energy?
The energy produced will be purchased by Armenia’s national power company. Renco, flanked by Siemens, financed 60% of ARMPOWER, for a total of 56.9 million dollars. Siemens covered 40%, amounting to 37.9 million dollars.