Energy Week 2017

Traditional “Energy Week 2017Conference launched in Yerevan

Traditional “Energy Week 2017″ series of Events launched in January 25-27, 2017,  which was organized by  Armenia Renewable Resources and Energy Efficiency Fund and Expomedia  Centre of Exhibition Projects.

The President of the RA Mr. Serzh Sargsyan, the World Bank Country Director Mrs. Laura Bailey, the Deputy Minister of Energy Infrastructure and Natural Resources Mr. Hayk Harutyunyan, representatives of international institutions, non-governmental and financial organizations, foreign investors, private and public sector representatives and experts took part in the opening ceremony of the event.

These regular Events organized by the Fund were aimed at presenting the latest developments in energy efficiency and renewable energy sector, investment opportunities and possible sources of funding, technological and engineering solutions, perspectives and problems existing in the sector.

The series of Events included a three-day exhibition, which represented local producers and professional companies working in the sector. It introduced insulating materials, energy efficient lighting and heating systems, solar technology schemes and services. The exhibition was attended by 28 specialized companies.

Investors represent different countries, such as France, Germany, Spain, Italy, Holland, Switzerland, USA, United Arab Emirates, India, Iran, Lebanon, China, Russia, Ukraine and others. The first solar power station construction prospects in Masrik 1 site in Gegharkunik region, as well as the details of the tender were presented at the Conference. The anticipated capacity of the power station is 55 MW, although a station of about 95 MW capacity is possible to construct in the selected site. The Tender will allow to obtain the lowest price proposal through participation of eligible companies and investors. The participation of public officials and round-table discussions was not onlya confidence and guarantee for the investors, but also a good opportunity to provide clarifications on key issues in terms of legislation.

The project introduced energy sector development vision and renewable energy enabling environment for the investments in Armenia. Enabling policies and stable  historical experience was introduced by local investors and banks, which was crucial to attracting foreign investments.

The second day of the Event was devoted to the development of renewable energy in Armenia, several reports on investment climate, energy system, investors’ risk mitigation solutions and other issues in Armenia. The guests of the Event visited Armenia Cognac/Brandy factory during the break.

The third day of the Event was focused on energy efficiency sector achievements and challenges, financing opportunities, mechanisms for energy efficiency investments, as well as the development of sustainable energy project in Syunik region, and number of other issues.

The participants visited Merdzavan solar resource measuring station, which was installed and used by Armenia Renewable Resources and Energy Efficiency Fund for the assessment of reliable, accurate solar resource data collection.

The results and achievements of the project, government reforms and incentives so far were introduced during the Event. Financing opportunities for community energy saving projects and SME energy efficiency projects were introduced by the international and local banks.