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YEREVAN. – The European Bank for Reconstruction and Development (EBRD) is interested in the implementation of new projects in renewable energy segment of Armenia, head of the EBRD Armenia Office Dimitri Gvindadze told reporters on Wednesday at the Energy Week of Armenia - 2018 event.

According to him, the financial sector is a priority for the EBRD in Armenia, since the partner network of European bank covers 2/3 of the Armenian banking system.

Nevertheless, one of the cores of the EBRD cooperation with Armenia is the energy sector, he noted.

“We are actively cooperating with the Electric Networks of Armenia CJSC and are co-financing the Masrik-1 industrial project for the construction of a solar power plant,” Gvindadze added.

Touching upon Talin-2 initiative, the chair noted that EBRD intends to consider and take part in it with the end of discussions already at the stage of making substantive decisions.

According to him, the Bank’s active portfolio in Armenia is equal to 300 million euros, while the volume of operations in the country since the start of operations exceeds 1 billion euros.

“About 90% of our portfolio is in the private sector. This is the difference of our bank from other financial organizations. Every year, we conduct operations amounting from 70 to 130 million euros, and this year we have actually fulfilled the plan by 100%,” Gvindadze concluded.

As reported earlier, an international consortium of two companies - Spanish Fotowatio Renewable Ventures B.V and the Dutch FSL Solar S.L – won the tender for the construction of the Masrik-1 solar station with a capacity of 55 MW.

The Energy Week of Armenia - 2018 event is being held from November 14 to 16. The organizers are the Renewable Energy and Energy Efficiency Fund of Armenia and Invest In Network, while over 300 representatives of foreign and local government agencies, the private sector, international organizations, investors, diplomatic corps, and experts take part in the event.

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