EcoLur
The European Bank for Reconstruction and Development has funded the construction of 24 SHHPs. The EBRD has replied to EcoLur providing details about funding and terms and conditions.
EcoLur: What are amounts of all EBRD loans, direct of mediated, the funds of which were used to construct SHPs in Armenia mentioning each loan and its validity term?
EBRD has signed and disbursed under 2 products:
1. Armenian Renewable Energy Programme (AREP). EBRD provided a USD7 million loan facility signed in May 2006; maturity 4 years. The EBRD financing was supplemented by a USD 5 million facility from the R2E2 Fund and USD 3 million financing from Cascade Bank. AREP was administered by Cascade Bank which was acquired by Ameriabank in 2010.
2. A direct loan to Bazenc from EBRD under the Direct Lending Facility (EUR 1.1 million loan signed in July 2005; maturity 5 years).
Both projects have been completed. AREP is being repaid while Bazenc has been fully repaid.
EcoLur: Which SHPs are constructed with the funds of EBRD loan? Armenian Renewable Energy Programme (AREP)
1. Artavan-1 SHPP, Vayots Dzor Marz
2. Aygezard SHPP, Ararat Marz
3. SpitakHPS-1 SHPP, LoriMarz
4. Ler-Ex 1,3,4,5,6SHPPs, Syunik Marz
5. Yeghegnadzor SHPP, Vayots Dzor Marz
6. Dzoragyugh 1 and Dzoragyugh 2 SHPPs, Gegharkunik Marz
7. Her-Her 1 SHPP, Vayots Dzor Marz
8. JradzorSHPP, ShirakMarz
9. Aygedror SHPP and Aygedror-2, Tavush Marz
10. Vahagni SHPP, Lori Marz
11. Goght 1 and Goght 2 SHPPs, KotaykMarz
12. Khachaghbyur SHPP, Tavush Marz
13. Bovadzor SHPP, Lori Marz
14. Khachaghbyur-1 SHPP, Tavush Marz
15. Surb Aghbyur, Vayots Dzor Marz
16. AyriSHPP, SyunikMarz
Loan to Bazenc
1. Bazenc SHPP, Vayots Dzor Marz Province
EcoLur: Which companies, operating SHPs, take part in the purchase agreement of certified emissions through Multilateral Carbon Credit Fund - MCCF and what is the extent of funds?
The MCCF has a carbon credit transaction with Ani OJSC in respect of the Jradzor project. Jradzor is CDMregistered (please see:https://cdm.unfccc.int/Projects/DB/KPMG1209636068.0/
The EBRD through its technical assistance programme also assisted Hydro Corporation (the mother company of Ani) in the registration of the Argichi Small Hydro project (please see:https://cdm.unfccc.int/Projects/DB/KPMG196433078.89/
4. Whether other development banks, for example KfW, can make use of MCCF services or they have intermediates?
EBRD and ELB have established the Multilateral Carbon Credit Fund. Ln Armenia the MCCF has only bought carbon credits from projects that have indirectly been financed by EBRD. MCCF has no carbon transactions with other development banks.
EcoLur: Whether EBRD examined the operations of SHPs constructed with EBRD loans and whether the banks possess information about the findings of these examinations, whether the activities on loan were assessed?
As part of the EBRD due diligence process, the Environment and Sustainability Department reviewed the environmental management plan (EMP) designed for the Armenian Renewable
Energy Programme and added to it a specific set of eligibility criteria for screening candidate projects. These criteria benefited from the Bank's previous experience with mini-hydro facilities. Sub-projects were required to comply, at a minimum, with national standards and international best practices for environment, health and safety. Environmental due diligence was undertaken by consultants for each subproject financed and the Bank's Environmental Department reviewed the resulting reports to assess subproject compliance with the agreed eligibility criteria and with applicable environmental, health and safety and employment regulations.
As for Bazenc, after an initial environmental due diligence process at project approval, the Bank tasked consultants with undertaking a follow-up monitoring visit in July 2006 which confirmed on-going compliance of the project with national environmental and social protection requirements. No corrective actions were required of the project.
EcoLur: Whether EBRD policy includes continuous funding of SHP scheme development in Armenia and through which financial mechanisms.
In accordance with the EBRD's Country Strategy for Armenia, the Bank could consider providing financing either directly or via financial intermediaries to SHPs which meet the the EBRD Environmental and Social Policy requirements. You can access the EBRD's Country Strategy for Armenia (also available in Armenian language) at http://www. ebrd. comfpa9.es/countrv/armenia/strate9y. shtml
For our part, "EcoLur" NGO expresses its willingness to provide the minutes of the public hearings on SHP projects, as well as assessment of the SHP projects submitted to the Environmental Expertise of Nature Protection Ministry of Armenia.
We are grateful for "Ecolur" NGO's offer and we will contact you once we have an SHP project under preparation. In that case, we would welcome your assessment on that particular SHP project.
May 03, 2013 at 14:05