ArmInfo.During the last two years, there has been a significant increase in investments in renewable energy, including solar energy, in Armenia. This was discussed during the panel discussion held on November 28 within the framework of the Energy Weekforum.
In particular, as Eduard Arakelyan, Head Of Corporate Sales And Relationship Management Division at Ameriabank, noted in his speech, the Bank has observed a significant increase in interest in green energy projects, many of which are financed by the Bank.
To date, Ameriabank has loan agreements aimed at developing green energy in the amount of about 46 billion drams, 50% of which resources have already been allocated.
According to projects financed by the Bank, during 9 months of this year, green energy facilities have already produced 118 million kWh of electricity, which has eliminated about 57 thousand tons of CO2 emissions. The bank also became a pioneer in the issue and placement of "green bonds" in the amount of about 42 million euros in 2020.
At the same time, as Mr. Arakelyan noted, the rapid development of renewable energy can lead to the problem of overloading the republic's electrical networks, to which he drew the attention of those responsible for the sector.
In this regard, Gor Khachatryan, Energy Specialist at the World Bank, emphasized that the World Bank allocated about $40 million to modernize the network facilities of the state-owned High Voltage Electric Networks CJSC, which will significantly increase the company's capabilities and avoid problems.
Meanwhile, Ashot Petrosyan, Head of Financial System Development at Central Bank of Armenia, noted that the department has developed a "road map" of sustainable development for 2024-2027, in which renewable energy will also be included.
According to Ara Makaryan, Deputy CEO, Director of Business Development Department at Armswissbank, our financial structure began actively lending to projects in the field of renewable energy in 2018. Today, about 20% of the Bank's total loan portfolio is allocated specifically for these purposes.
Earlier today, Minister of Territorial Administration and Infrastructure of the Republic of Armenia Gnel Sanosyan reported that by 2030 it is planned to increase the volume of electricity production from solar and wind energy facilities to 15%, and by 2040 to increase the capacity of the country's energy system using solar energy by 1500 MW, and wind - at 500 MV.
