EcoLur
Recently the President of the Central Bank Arthur Javadyan and Vice-president of the German development bank KfW Eva Witt signed a loan agreement about allotting 40 million Euros for the financing of the construction of 30-40 small hydropower plants in Armenia. The agreement is carried out in the frames of Support for Renewable Energy' program. Besides the loan, KfW intends to provide grants to enhance the construction of water power plants compliant with international standards.
The program of the support for renewable energy was launched on 24 November 2004. A loan of 6 million Euros was allotted for this purpose and another 1.5 million Euros under the grant programs. As a continuation of the program, an agreement was signed on the loan allocation in the amount of 18 million Euros and 1.5 million Euros in the form of grants.
The Central bank of Armenia informs that 26 SHPs were constructed with the allotted funds with total capacity of 62.4 Mwt.
November 22, 2012 at 15:47