A US-based company will soon enter the Armenian market of renewable energy, energy infrastructure and natural resources minister Ashot Manukyan told journalists on Friday, saying that a memorandum of cooperation will be signed one of these days on the construction of Shnokh hydropower plant with the capacity of 76 MW.
According to him, this will be the start of bilateral cooperation in the field of renewable energy, where until now the contacts with the United States have been limited to consulting issues. “This will be the beginning that will allow further development of cooperation in the field of renewable energy and bring US investments to Armenia’s renewable energy sector,” Manukyan said.
On August 10 the government approved an agreement related to construction of the 76-MW Shnokh hydropower plant on the Debed River in the province of Lori. The project cost is estimated at $150 million and construction of the hydroelectric facility is “part of a strategy to ensure energy security of the nation.
