YEREVAN. – The Minister of Energy and Natural Resources of Armenia, Yervand Zakharyan, on Wednesday met with a visiting delegation from the Moody’s bond credit rating business.

The Ministry of Energy and Natural Resources informed Armenian News-NEWS.am that the minister spoke about the current situation and the prospects for development of Armenia’s energy system, and noted that it is in a stable financial condition.

Zakharyan informed that activities are underway to extend the lifetime of the second energy unit of the Armenian Nuclear Power Plant until the year 2027. He added that, in parallel with this project, Armenia is going to build a new nuclear energy unit by the same year, and that work is underway to engage respective private investors.

In addition, as per the minister, two thermal power stations are expected to be built in capital city Yerevan and in Vanadzor town, and these projects likewise shall be implemented with private capital. 

Also, Yervand Zakharyan informed the guests that Armenia plans to increase its capacity in renewable energy. In particular, wind turbines, solar thermal power stations, and small hydroelectric power plants are expected to be built in the country.

Furthermore, the minister spoke about the construction project of the Iran-Armenia and Iran-Georgia high-voltage overhead electric power transmission lines.