Yerevan/Mediamax/. A week of renewable energy was launched in Yerevan today.

Mediamax informs that in the course of a week, they will discuss global achievements in the sphere of renewable energy, prospects for developing this sphere in Armenia, new investment projects, programs on renewable energy financing by international financial structures and local banks.

Minister of Energy and Natural Resources of Armenia Armen Movsisyan stated at the launch of the event that renewable energy is one of the most important components of Armenia’s energy sector, since it allows maximally increasing the level of Armenia’s energy security.

“At present, there are 94 small HPPs with the aggregate capacity of 124 megawatt functioning in Armenia. They will provide 385mln kilowatt/hour energy this year, and this figure makes about 3% of the total needs of Armenia”, Minister stated, adding that at present construction of 65 more small HPPs is in process.

According to Armen Movsisyan, in the course of 10-15 years, they plan to increase the share of small HPPs in aggregate production of power energy in Armenia to 7-8%, and the share of entire renewable energy is planned to be increased up to 10%. “Investment interest is also present in the sphere of construction of wind power plants”, Armen Movsisyan stated, noting that one Italian company has already gained a license for construction of a wind power plant with the capacity of 20 megawatt in Armenia.

Renewable Resources and Energy Efficiency Fund of Armenia and “Expomedia” Center have organized the week of renewable energy. The events are taking place, given support of the Armenian government, World Bank and the World Ecology Foundation.