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Energy autonomy for Armenia Energy autonomy for Armenia Energy autonomy for Armenia

Energy autonomy for Armenia

Armenia
Projects
Energy Division Project Development

Renco has developed a public-private partnership for the design, construction and management for 25 years of a 254 MW combined-cycle power plant in Yerevan, through project financing. The energy produced will be purchased by Armenia’s national power company.

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Immagine dell'impianto dall'alto
254
MW

energy generated

25
years

management contract

20
%

national production

258
MM $

budget for the project

Project type
Gas power station
Status
Completed
Client
Republic of Armenia
Contractor
Renco
Location
Yerevan
Date of delivery
December 2021

KEY INFO

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Render del impianto
FOCUS
Reduction of energy costs

In detail

Renco, flanked by Siemens, financed 60% of ARMPOWER, for a total of 56.9 million dollars. Siemens covered 40%, amounting to 37.9 million dollars. The rest of the loan was granted by a pool of international financial institutions coordinated by the IFC of the World Bank for 163 million dollars. Other subjects involved include the Asian Development Bank, the OPEC Fund for International Development and DEG (Deutsche Investitions).

Renco
56,9 million $
Siemens
37,9 million $
Financial Institutions
163 million $

' There’s a new big market in which to enter as producers and developers of energy '

Giovanni RubiniChief Executive Officer
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L'impianto dall'alto

Focus on the details

CLOSE-UP ON THE PROJECT

Up to 120 Italian workers were involved, who were afforded an extraordinary opportunity to share experiences and know-how with the over 1,000 Armenian workers involved.

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Operai cantiereYerevan
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Impianto Yerevan

The work took 28 months to complete and was made regardless of the international crisis.

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Organizzazione renco yerevan
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Operai al lavoro yerevan
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Organizzazione renco yerevan
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Operai al lavoro yerevan

Italians will be present even after the plant’s completion, confirming the deep human and professional ties that have been established

Operations and maintenance works

A collaboration that has been going on for over 20 years

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background yerevan_

RENCO’S PRESENCE IN ARMENIA HAS A LONG HISTORY

The project in Yerevan, Armenia, proved Renco’s capacity to make its commitment to sustainability tangible, especially in strategically important projects.

For Renco, the Yerevan project was the first important attempt to finance an international project. With the help and support of IFC, ADB and the World Bank, Renco succeeded in building an entirely new combined-cycle power plant for supplying electricity to Armenia. The project was completed with the clear aim of protecting the surrounding environment and the local communities, as well as producing environmental and social benefits for the local context.

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centrale1
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