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IFC, ARMENIA TO JOINTLY ENHANCE GRID AND RENEWABLE ENERGY SOURCES
PanARMENIAN.Net
May 19, 2011 - 16:32 AMT
IFC, a member of the World Bank Group, and the Ministry of Energy and
Natural Resources of Armenia signed a cooperation agreement on May 19
to increase the efficiency of Armenia's energy system by introducing
new renewable energy sources.
The Armenian government's forward-looking energy strategy has led
to a significant increase in the number of small hydropower plants
and renewable energy generators in Armenia. However, there is a
need to ensure the reliability and secure operations of the national
power grid. IFC Armenia Sustainable Energy Finance Project will help
Armenia develop reliability indicators based on the best international
practices and adapted to the domestic power system. Reliability
indicators will set basic technical normative requirements to securely
operate the power system in standard and emergency situations.
"IFC is helping the Ministry develop reliability indicators that will
not only significantly enhance the security of the power system,
but also better integrate new renewable energy capacities into the
overall system," said Tigran Parvanyan, IFC Armenia Sustainable Energy
Finance Project Manager.
IFC Armenia Sustainable Energy Finance Project is designed to
establish a sustainable market for energy efficiency and renewable
energy investments and contribute to the energy self-sufficiency
of Armenia. The project, launched in January 2010, is implemented
with financial support from the Austrian Ministry of Finance. It is
part of a broader IFC initiative in Europe and Central Asia to help
companies and governments become more resource efficient and stimulate
investment into renewable energy.
PanARMENIAN.Net
May 19, 2011 - 16:32 AMT
IFC, a member of the World Bank Group, and the Ministry of Energy and
Natural Resources of Armenia signed a cooperation agreement on May 19
to increase the efficiency of Armenia's energy system by introducing
new renewable energy sources.
The Armenian government's forward-looking energy strategy has led
to a significant increase in the number of small hydropower plants
and renewable energy generators in Armenia. However, there is a
need to ensure the reliability and secure operations of the national
power grid. IFC Armenia Sustainable Energy Finance Project will help
Armenia develop reliability indicators based on the best international
practices and adapted to the domestic power system. Reliability
indicators will set basic technical normative requirements to securely
operate the power system in standard and emergency situations.
"IFC is helping the Ministry develop reliability indicators that will
not only significantly enhance the security of the power system,
but also better integrate new renewable energy capacities into the
overall system," said Tigran Parvanyan, IFC Armenia Sustainable Energy
Finance Project Manager.
IFC Armenia Sustainable Energy Finance Project is designed to
establish a sustainable market for energy efficiency and renewable
energy investments and contribute to the energy self-sufficiency
of Armenia. The project, launched in January 2010, is implemented
with financial support from the Austrian Ministry of Finance. It is
part of a broader IFC initiative in Europe and Central Asia to help
companies and governments become more resource efficient and stimulate
investment into renewable energy.