Time in Yerevan: 11:07:36,   8 August 2022

Armenia has great potential for solar energy development – says President Sargsyan

Armenia has great potential for solar energy development – says President Sargsyan

YEREVAN, JANUARY 25, ARMENPRESS. Armenia’s President Serzh Sargsyan considers the energy sector as one of the most important branches of the country’s economy.

The President said the development of renewable energy at solar, wind, geothermal and hydropower directions is very important from the perspective of the energy field development strategy.

During a conference in Yerevan launched within the frames of the “Energy Week 2017” events on January 25, President Sargsyan said in his speech that from long-term perspective the economies based on the green principles are more prospective and sustainable.

“According to numerous expert research results, Armenia has a great potential for solar energy development. Recently a number of legislative reforms were carried out aimed at creating an attractive environment for investors, by using the best global practices. It is important to state that during the recent years the technological cost of solar power plants has been decreased by over 80%. This made the industrial-scale solar technology competitive towards other technologies of energy production existing in Armenia”, the President said.

According to the President, the preliminary calculations show that now due to the latest technologies it is possible to get a competitive tariff for solar power plants which in its turn will allow to prevent the negative consequences on the final energy tariff defined for consumers.

He said there are opportunities for world-companies to take part in the competitions in Armenia and construct solar power plants with large power. The President said it is planned to significantly increase the overall share of renewable energy in the energy balance in the upcoming years, by constructing solar, wind and geothermal power plants. “This conference can become a good platform to discuss the recent developments and investment opportunities in Armenia’s renewable energy field. I wish you a productive work and I am confident the results will not delay”, Serzh Sargsyan said.

The “Energy Week-2017” events and exhibition is being held in Yerevan January 25-27.

The events aim at presenting the latest developments in Armenia in energy efficiency and renewable energy, existing problems, investment opportunities and perspective projects.



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