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ARMENIA-GEORGIA POWER LINK PROJECT LENT EURO 95M
Energy Live News - Energy Made Easy
March 16 2015
Mar 16, 2015 Priyanka Shrestha
The power line linking Armenia and Georgia is getting a boost, thanks
to a EURO 95.2 million (£68m) loan announced today.
The European Investment Bank (EIB) said it is providing EURO 10
million (£7.2m) while German bank KfW is lending EURO 85.2 million
(£61m) for the project.
The cash will be used to build the new electricity transmission line
and a high-voltage direct current station between the two nations,
designed to meet the growing power demand.
EIB Vice-President Wilhelm Molterer, responsible for EIB lending in
Armenia said: "The project will also foster regional trade, increase
the potential for the use of hydro energy generation and facilitate
FDI [foreign direct investment] by ensuring the reliable electricity
deliveries needed by foreign investors."
Earlier this month UK energy regulator Ofgem launched a consultation
on its proposals to approve three new electricity interconnectors.
http://www.energylivenews.com/2015/03/16/armenia-georgia-power-link-project-lent-e95m/
Energy Live News - Energy Made Easy
March 16 2015
Mar 16, 2015 Priyanka Shrestha
The power line linking Armenia and Georgia is getting a boost, thanks
to a EURO 95.2 million (£68m) loan announced today.
The European Investment Bank (EIB) said it is providing EURO 10
million (£7.2m) while German bank KfW is lending EURO 85.2 million
(£61m) for the project.
The cash will be used to build the new electricity transmission line
and a high-voltage direct current station between the two nations,
designed to meet the growing power demand.
EIB Vice-President Wilhelm Molterer, responsible for EIB lending in
Armenia said: "The project will also foster regional trade, increase
the potential for the use of hydro energy generation and facilitate
FDI [foreign direct investment] by ensuring the reliable electricity
deliveries needed by foreign investors."
Earlier this month UK energy regulator Ofgem launched a consultation
on its proposals to approve three new electricity interconnectors.
http://www.energylivenews.com/2015/03/16/armenia-georgia-power-link-project-lent-e95m/