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Interfax, Russia
Jan 9 2015
Russia loans Armenia $270 million for power plant expansion
By Staff reporter
Posted 9 January 2015 13:45 GMT
Russia has approved an export loan of $270 million to Armenia to
finance the development of an extension project at the Metsamor
nuclear power plant.
The debt will mature over a 15-year tenor, according to a statement by
the Russian government.
The licence for the existing reactor atthe site is valid until
September 2016, but the new agreement will see this extended to 2026.
Metsamor began operations in 1980 but was stopped in March 1989 after
the Spitak earthquake in December of the previous year.
Two energy-producing blocks at the station were fitted with
first-generation Russian VVER-440 reactors.
The first block is not in use, while the second has a capacity of
407.5 MW and generates on average about 40% of Armenia's electricity.
German development bank KfW also supplied a loan in December worth
more than $100 million for a new high-voltage power line and
substation to interlink with neighbouring Georgia's network.
The EU is also supplying funding towards the scheme, which is due
online in 2018.
From: A. Papazian
Jan 9 2015
Russia loans Armenia $270 million for power plant expansion
By Staff reporter
Posted 9 January 2015 13:45 GMT
Russia has approved an export loan of $270 million to Armenia to
finance the development of an extension project at the Metsamor
nuclear power plant.
The debt will mature over a 15-year tenor, according to a statement by
the Russian government.
The licence for the existing reactor atthe site is valid until
September 2016, but the new agreement will see this extended to 2026.
Metsamor began operations in 1980 but was stopped in March 1989 after
the Spitak earthquake in December of the previous year.
Two energy-producing blocks at the station were fitted with
first-generation Russian VVER-440 reactors.
The first block is not in use, while the second has a capacity of
407.5 MW and generates on average about 40% of Armenia's electricity.
German development bank KfW also supplied a loan in December worth
more than $100 million for a new high-voltage power line and
substation to interlink with neighbouring Georgia's network.
The EU is also supplying funding towards the scheme, which is due
online in 2018.
From: A. Papazian