PSRC approves Armenian NPP's AMD1.5 bn investment program

PanARMENIAN.Net - The Public Services Regulatory Commission approved Wednesday, February 24 the Armenian nuclear power plant’s AMD 1.5 billion (excluding VAT) investment program, ARKA reports.

The project envisages replacement of dilapidated equipment in the plant's turbine section that is estimated to cost AMD 428.3 million, and modernization of the reactor section (AMD 400 million).

Also, some AMD 233.3 million will be spent on replacement of out-of-date radiation barriers and an additional AMD 196 million on the modernization of seismic protection.

Armenia's Deputy Minister of Energy and Natural Resources Areg Galstyan stressed the necessity of attracting new loans for the implementation of the program, since Russia’s loan and grant along with International Atomic Energy Agency’s technical assistance are not sufficient.

Energy Minister Yervand Zakharyan said on February 12 that work is underway to extend the operational life of the current energy unit of the power plant until 2027.

According to him, Armenia is going to build a new nuclear power generating unit with a 600 MW capacity by 2027. Besides, two new thermal power stations will be constructed in Yerevan and Vanadzor.

The Armenian Nuclear Power Plant (ANPP) is the only nuclear power plant in the South Caucasus; it is located only 36 kilometers west of Yerevan, Armenia's capital. Approximately 40 percent of electricity of Armenia was produced by the nuclear power plant in 2015.