R2E2 Fund Armenia

Armenia Renewable Resources and Energy Efficiency Fund,

The Armenia Renewable Resources and Energy Efficiency Fund started its operation in 2006. It has been established by Government of Armenia as an independent NGO following the provisions of “Law on Energy Efficiency and Renewable Energy” of Armenia. The mission of the Fund is to facilitate investments in energy efficiency and renewable energy in Armenia. Within a short period of time the Fund gained a reputation of a reliable advocate for sustainable energy development in Armenia. It is professional expertise for government in issues related to the green energy development strategy and legislation. The Fund continuously analyses situation identifying barriers and proposing solutions to the government responsible agencies.The Fund also established financing mechanism through a revolving lending tool, which finances energy efficiency and renewable energy projects through the banks or credit organizations. The Fund has developed working relationship and partnership with major state, private and international organizations and companies in Armenia including the Government of Armenia (Minister of Energy and Natural Resources is the Head of Board of Trustees), Public Services Regulatory Commission, the Central Bank, the World Bank, EBRD, EU, USAID, UNDP, UNIDO, KfW and their projects’ teams, as well as number of local and international companies, private banks, gas and electricity supply companies,  High Voltage Network, Gas supply company, Association of Small Hydro PP (SHPP) owners, more than 40 SHPPs, ESCO Association, Enterprise Incubator Foundation, Armenian Development Agency, Alliance to Save Energy, Enertech inc, BBI international, etc. Throughout the implementation of its activities the Fund was in close cooperation with National Academy of Science, American University of Armenia, National Renewable Energy Laboratory (USA), as well as other research institutions.
Currently the Fund is agent of the Government for implementation of the World Bank projects in the sector.