Electricity is a product in increasing demand in the world, and we must find ways to export the electricity we produce. Not to mention the abundance of electricity in our country should be of some investment interest to non-residents, particularly in the high-tech sector, Prime Minister Nikol Pashinyan stated at Thursday’s Cabinet meeting of the Armenian government.

According to him, artificial intelligence, cryptocurrencies, etc. consume a huge amount of electricity, and, taking this factor into account, such investments should be able to be attracted.

“We [i.e. Armenia] should not stop, slow down the development of the solar energy sector, we should let it develop; we should catch up with it with our technologies, solutions. I understand that it is very difficult, but this is a serious task of economic, energy security, including our state security and state independence, and we must consistently follow this path. Not to mention that it is obvious that this is the future. Today, the future is there, too. The more solar power plants we have today, the more we enter the future right now, therefore this is a task in which we must be very consistent,” Pashinyan added.

“We are able to satisfy all our domestic needs with the electricity produced entirely from our own resources. You understand what strategic task we have carried out. We must learn to manage problems, find technical and political solutions.

We have created two nuclear power plants, twice as many as the [current] nuclear power plant, without any fuss. No one has even seen [it], we haven't even recorded [it], we haven't carried out [an official] opening, we haven't cut a ribbon, we haven't given a speech. We have made decisions in this hall and created two nuclear power plants. Moreover, this breakthrough has occurred in the last seven years. This is a great achievement that is not talked about. But the important [thing] is not the talking, the important [thing] is the achievement," the Armenian PM noted.