Russia's state nuclear corporation Rosatom has proposed building a large or medium-capacity nuclear power plant in Armenia to meet the country's future electricity demand.

The proposal was announced by Rosatom Director General Alexey Likhachev.

“Our proposal is a large or medium-capacity plant with one or two power units that would cover the expected energy shortfall for decades,” Likhachev told reporters, according to Newizv.ru.

He said that nuclear energy currently generates about 30 percent of Armenia's electricity.

At the same time, Armenia could face a future shortage of generating capacity, which Likhachev estimated could reach one gigawatt.

The Rosatom chief said preparations for such a scenario should begin in advance by developing new energy projects.

One possible solution, he said, is the construction of a nuclear power plant with one or two reactor units.

Likhachev also stressed that having a developed nuclear energy sector is an indicator of a country's high level of industrial and economic development.

During U.S. Vice President Vance's visit to Yerevan, Prime Minister Nikol Pashinyan announced that agreements had been reached on a modular nuclear power plant project. Following the talks, the sides signed an agreement on cooperation in the peaceful use of nuclear energy.

Rosatom Service is currently implementing a project to extend the operating lifetime of the existing Armenian Nuclear Power Plant.