40 million dollars to Develop Armenia’s Renewable Energy and Energy Conservation

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“Ecolur” NGO informs us that the Climate Investment Fund has allocated a 40 million dollar grant to Armenia Renewable Resources and Energy Efficiency Fund (R2E2) within the framework of Renewable Energy Expansion Program. In her interview with “Ecolur”, R2E2 Fund Director Tamara Babayan noted that the grant must be targeted to the implementation of 3 main components of the project:

  • geothermal energy development, which is being implemented for the first time in Armenia,

  • the development of Solar energy by constructing more industrial-scale solar power plants

Tamara Babayan stressed the need to enhance Armenia’s energy security and energy independence, given that even one third of the gas or uranium for nuclear power are also imported. It also necessary to try to replace the current clean one with the more perfect one, to use own resources more efficiently. As Ms. Babayan says, the majority of our buildings is in not in a good condition in terms of energy use. We have a lot of losses and those losses can be reduced through energy efficiency.

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