Armenia’s legislation favorable for construction of hydropower plantsJune 25, 2011 - 16:10 AMT PanARMENIAN.Net - Armenia may prioritize development of small hydropower plants and wind plants in a short-term perspective, while geoenergetics in a mid-term one, the Director of Armenia Renewable Resources and Energy Efficiency Fund Tamara Babayan said. 26 small hydropower plants have been constructed in Armenia for the last three years at the assistance of the Fund, out of which 24 are already put into operation. The average loan received by owners for construction of hydropower plant amounts to some AMD 1mln. under 10-12% annual, with the term of 7-8 years within the framework of different programs, including KfW, European Bank for Reconstruction and Development and others. The recoupment process for small hydropower plants makes 4,5-7 years depending on the technology used, which makes the filed rather profitable. “This is proved by numerous licenses granted by Public Services Regulatory Commission for hydropower plants construction. If I am not mistaken, from 2003 up to date some 130 licenses have been issued,” Babayan said. As regards environment protection norms the Director assured that the Fund does not assist those projects on hydropower plants construction which fail to meet the requirements and also those which are assessed high on the part of international structures when providing financial assistance. Moreover, Armenian legislation regulating this field is the most favorable among other CIS countries; however there also are some barriers, according to her, including issuance terms of licenses for construction amounting to 280 days which is not very admissible for an investor. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. EU still discussing funding Armenia through European Peace Facility Discussions continue in the EU on providing Armenia with funds from the European Peace Facility, Vassilis Maragos says. |