Energy Efficiency bulbs will be installed in 28 streets in Yerevan and an automatic management system will be introduced. These reforms will be carried out in the frames of "Yerevan Municipal Lighting Project" grant agreement. The main goal of the project is to have a safe and energy-saving lighting network.
The total capital investment of the project amounts to nearly $ 6 million. "Yerevan Municipal Lighting Project" loan agreement worth $4 million was signed between the Republic of Armenia and EBRD to finance the project on May 11, 2015. Taking into account that the project is energy-saving, it is possible to get grant funds worth 1.9 million euros from the Eastern Europe Energy Efficiency and Environment Partnership Fund. Yercitylight CJSC, Yerevan Municipality, Finance Ministry acting on behalf of the Armenian Government and the European Bank for Reconstruction and Development (EBRD) will sign "Yerevan Municipal Lighting Project" grant agreement which was approved by the government on 15 October.
October 20, 2015 at 14:13