YEREVAN, JULY 26, ARMENPRESS. Solar panel production is already being implemented in Armenia, and some additional investment programs seek to expand it, deputy minister of energy infrastructures and natural resources Hayk Harutyunyan told a press conference.

“We studied the market, we see that the local manufacturers’ prices are not only competitive, but are also lower to some extent compared to imported solar panels”, Harutyunyan said, mentioning that the additional value from the production will remain in Armenia, if local production is boosted and these technologies are made more affordable in the country.

The said that a tender has been announced for the construction of a 55MW solar power station.

The tender is scheduled to be completed in the first quarter of 2018. Final contracts are expected to be signed during the abovementioned period as well.

The official also mentioned that active discussions were held regarding the financial-technical requirements of the geothermal drilling project’s results. “We are trying to understand as to what extent this resource, which we found, is economically beneficial and at what tariffs a systematic station can be built. We are holding numerous meetings on this matter”, he said.