YEREVAN. – Renco construction company of Italy will receive preferential conditions for the construction of the new energy unit for Yerevan Thermal Power Plant, in the capital city of Armenia.

The respective memorandum of intent was approved at Thursday’s Armenian Cabinet meeting.  

Accordingly, the Government of Armenia is ready to provide significant benefits and supply cheap natural gas to the new electric power station, and purchase its entire electricity output at a high price.

In addition, the Armenian state will guarantee that the Electric Networks of Armenia CJSC will buy for twenty years all the electricity produced by this new thermal energy unit.