Extending the operation of the Armenian Nuclear Power Plant until 2046 will require significant capital investments, which, according to Rosatom, could cost hundreds of millions of dollars, this Russian state corporation's director general Alexey Likhachev told reporters in Armenia.

According to him, there is a technical possibility to extend the life of the plant until 2046, but this requires large-scale modernization. In particular, this concerns safety and automation systems, additional work on the reactor vessel, ensuring the necessary characteristics of the equipment, as well as expanding and repairing the storage capacity for spent nuclear fuel.

“Quite major investments are needed, and we estimate them at the level of hundreds of millions of dollars,” Likhachev noted.

In his words, the corresponding basins and storage capacities are designed for a shorter period of operation, which is why if the plant’s operation is extended until 2046, additional capital expenditures will have to be made.

Likhachev added that these costs will affect the electricity tariff. In his assessment, based on the amount of necessary work, the cost of electricity in the period from 2036 to 2046 may increase significantly—up to two times.

That is why, according to the head of Rosatom, Armenia should compare the economic feasibility of further extending the life of its current nuclear plant with the possibility of proceeding to the construction of a new power unit.

"Limiting the operation of the plant to 2036, but making a decision on starting the construction of a new unit as soon as possible," is one of the possible options, Likhachev said.