Armenia planning to increase the share of renewable energy, President says

President Serzh Sargsyan attended the opening ceremony for the Energy Week-2017 being held in Yerevan within the framework of the Solar Energy Investment Conference. The Conference is organized by Armenia’s Renewable Resources and Energy Efficiency Fund and the Expomedia Center of Exhibition Projects, President’s Press Office reports.

The Conference aims to present the recent developments of the energy efficiency and renewable resources area in Armenia, the existing problems, investment opportunities, possible funding sources, technological and design solutions, and prospective projects. The Conference is attended by over thirty companies from different countries which are interested in the possibilities for the construction of solar energy stations in Armenia.

The program of events to be conducted on January 25-27 includes also a three-day exhibition which will present the local manufacturers and companies specializing in this area. According to the organizers of the exhibition, the event will allow the participants to familiarize with the heat insulation materials, energy efficient systems of illumination and heating, samples of solar technology and services offered in this area.

Welcoming remarks of President Serzh Sargsyan at the opening ceremony of the
Solar Energy Investment Conference

Distinguished Colleagues,

Ladies and Gentlemen,

I cordially salute the participants of the Solar Energy Investment Conference which is being held in the framework of the Energy Week-2017 event.

As one of the most important areas of the Armenian economy, the energy area in recent year has registered substantial achievements. The works conducted in this area are aimed at raising the level of the energy security of Armenia, providing dependable and uninterrupted services.

With the assistance of the international financial institutions, the high-voltage substations of structural importance have been almost totally renovated. Constant and persistent activities aimed at the creation of new capacities, construction of new power lines, and introduction of new technologies are being carried out in this area. In the regional context, we are efficiently cooperating with our neighbors – the Islamic Republic of Iran and Georgia. Armenia-Iran and Armenia-Georgia power lines will be put into operation in 2019 which will allow to elevate the energy system of Armenia to a qualitatively new level. The implementation of the mentioned above programs will allow to carry out the transit of energy power, seasonal sub-flows and swaps, as well as other commercial deals.

As a member of the Eurasian Economic Union, Armenia can become a unique bridge between the Islamic Republic of Iran and the Eurasian Economic Union. This factor creates excellent opportunities for the implementation of various investment projects by the state as well as private sectors.

In the long-run, the economies based on “green” principles are more promising and stable. For that very reason, in the development strategy of this particular area, we especially stress the importance of the development of the renewable energy such as solar, wind, thermal and hydro energy.

According to numerous of scientific explorations, Armenia possesses a great potential for the development of solar energy. In order to create an attractive milieu for the investors, in recent period of time we have implemented a number of legislative reforms, using the best world practices.

It is necessary to note that in recent years the cost of technologies for solar photovolt panels has decreased by nearly 80%. For that very reason, compared to other technologies for energy production, the industrial-scale technology for solar photovolt panels has become competitive. The preliminary studies show that thanks to these modern technologies currently it has become possible to get a competitive price for solar photovolt panels which in turn will allow to avoid negative impact on the set energy price for the ultimate consumers.

Thus, the world famous companies have every opportunity to participate at the tenders in Armenia and to build great capacity solar photovolt panels.

In coming years, we are planning to dramatically increase the share of renewable energy in the general energy “balance sheet” through the construction of solar, wind, and thermostations.

Distinguished Colleagues,

This Conference may become an excellent platform to discuss the latest developments in the area of renewable energy in Armenia and investment opportunities.

I wish you productive work and every success. I am confident that the results will not be long in coming.

Thank you.