Armenia can become a regional electricity hub – PM

Armenia is actively working on the gradual liberalization of the electricity market, which opens up new opportunities and creates favorable conditions for interstate electricity trade, Armenian Prime Minister Nikol Pashinyan said at the Third Eurasian Congress in Sochi.

“We are developing production capacities, carrying out large-scale reconstruction of substations and power lines, and building Armenia-Iran and Armenia-Georgia high-voltage lines, which contribute to the formation of the North-South Electricity Corridor and create new opportunities for increasing exports, imports, transit or seasonal power exchange. Thus, Armenia can become a kind of regional electricity hub,” he said.

“It is also fundamentally important to continue working towards achieving carbon neutrality and moving forward with a green agenda. The green economy is an alternative to the dominant economic model, which causes scarcity of resources and poses threats to the environment,” he added.

The Prime Minister noted that “Armenia’s green energy policy is primarily aimed at decarbonizing and limiting greenhouse gas emissions, developing the use of renewable and alternative sources for energy production, stimulating the introduction of energy-efficient and resource-saving technologies, introducing innovative science-intensive technologies, as well as fulfilling the international obligations of countries on the global climate agenda.”

In this context, he emphasized the importance of discussing the development and maximum use of the potential of renewable energy.

“Renewable energy sources such as solar, wind and hydro power have enormous potential to drive economic growth and promote sustainable development in the region. By investing in renewable energy, one can contribute to the global efforts to combat climate change,” PM Pashinyan stated.

“In addition to the development of renewable energy sources, it is also necessary to pay attention to nuclear energy, which is a clean, decarbonized energy. The development of nuclear energy is also important from the point of view of ensuring energy security and independence of the Union countries. To this end, we continue taking steps towards the prospective use of nuclear energy, extending the design life of the 2nd unit of the Armenian NPP and carrying out work on the construction of a new power unit,” the Prime Minister said.

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