To date, a series of progressive decisions by the Armenian government have led to a significant increase in the number of small hydropower plants and renewable energy generators in the country.
However, officials believe there is a need to ensure the reliability and secure operations of the national power grid. Their hope is that the IFC Armenia Sustainable Energy Finance Project will help Armenia develop reliability indicators based on the best international practices and adapted to the domestic power system.
“IFC is helping the Ministry develop reliability indicators that will not only significantly enhance the security of the power system, but also better integrate new renewable energy capacities into the overall system,” said Tigran Parvanyan, IFC Armenia Sustainable Energy Finance Project Manager.
The project, launched in January 2010, is implemented with financial support from the Austrian Ministry of Finance. It is part of a broader IFC initiative in Europe and Central Asia to help companies and governments become more resource efficient and stimulate investment into renewable energy.
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