HERE AND BEYOND
IFC and Ameriabank advance joint efforts at sustainable energy projects support in Armenia
Media Room
Visit to SHPP project site in Jermuk

IFC, a member of the World Bank Group, and Ameriabank have invited the mass media representatives to visit Jermuk-2 SHPP project site together with the IFC and Ameriabank managing personnel. The Jermuk project is one of the first projects to receive Ameriabank’s funding in the framework of $15 mln principal loan provided by IFC under Renewable Energy Finance Program for small-scale projects. The financing is meant to buttress renewable energy generation and lower greenhouse-gas emissions in Armenia.

IFC financing will help increase domestic electricity production, diversify the energy sources and facilitate Armenia’s energy self-sufficiency. As part of regional strategy in Europe and Central Asia, IFC’s priorities in Armenia include capacity building for renewable energy and energy efficiency.

Jermuk-2 SHPP is being built on the Arpa River in Vayots Dzor marz, in the vicinity of Jermuk town. The total cost of the project is $ 3,150,000, of which $ 2,000,000 need to be financed. The installed power capacity of the SHPP is 2.3 MW with estimated annual energy generation of 10,260,000 kWh.

Its first financing received back in September 2009, Jermouk-2 SHPP was included in IFC Renewable Energy Finance Program in February 2010 to receive full funding from IFC. This enables Jermuk-2 SHPP to ensure proper quality construction and finalize the works on time. The prevailing part of the works completed, the plant has already placed an order for high quality hydropower equipment manufactured in Czech Republic and completed significant part of the pipeline. The SHPP commissioning is projected for November-December 2010.


About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. IFC new investments totaled $14,5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, please visit www.ifc.org.
Updated 25.12.2012, 15:50
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