Time in Yerevan: 11:07,   19 March 2024

Armenia has received no investment proposal of 8 billion USD in energy sector – clarification

Armenia has received no investment proposal of 8 billion USD in energy sector – clarification

YEREVAN, JUNE 23, ARMENPRESS. There has been no proposal of making 8 billion USD investment in Armenia’s energy sector. That amount is the evaluated potential of Armenia in solar energy, Deputy Minister of Energy Infrastructures and Natural Resources of Armenia Hayk Harutyunyan posted on his Facebook page, commenting on the information of possible investments of 8 billion USD in that sector.

“The announcement of the US Ambassador refers to the investment potential that we have in that spheres in case of realizing our economic potential most effectively”, “Armenpress” reports the Deputy Minister wrote.

According to Hayk Harutyunyan, the 8 billion USD is an assessment based on expert analyzes presented by the Ministry of Energy Infrastructures and Natural Resources of Armenia.

“That amount is the investment required for the full utilization of the entire potentials in the solar energy sphere”, Hayk Harutyunyan wrote, adding that solar energy must be competitive with other technologies and should not negatively impact on the tariffs.  

The Deputy Minister also informed that there is a program on realizing the potential of the solar energy. “Without serious difficulties it will be possible to generate 100-110 megawatt power in Armenia’s energy sector by the end of 2019”, Hayk Harutyunyan assured, adding that a competition has been declared for establishing a 55 megawatt power station.








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