The Fundamentals of the New Agreement on Construction and Operation of a Gaseous Power Station Were Signed

On August 22, in the Ministry of Energy and Natural Resources, the fundamentals on Agreement for the implementation of the construction and operation project  of the 540 MW(2x270 MW)  Gaseous  Power Plant in the Republic of Armenia were signed between the Republic of Armenia (in the person of the Ministry of Energy and Natural Resources) and  the ,, Anaklia I E P Holding’' Ltd company.

For the implementation of the project, the ,, Anaklia I E P Holding’' Ltd company will invest about 600 million U.S. dollars.

The gas turbines of the "General Electric" company production will be installed in the plant.

The government of Armenia will support a variety of issues, such as guaranteed volumes of gas supply, the provision of necessary permits, support for the construction of the power plant and associated infrastructures in accordance with the allocation of land, the legislation support, guaranteed investment protection of the company in the frame of the legislation, exemptions and utility connections, including high-voltage electric lines within their bandwidth and non-discriminatory access to the electricity export rights.

The construction of the Gaseous Power Plant in the Republic of Armenia will contribute to the energy security and viability of the country, development of production capacity, as well as, electricity export volumes.