Published 09 March 2012
The European Bank for Reconstruction and Development (EBRD) is supporting Armenia to improve the country?s energy efficiency and lower energy consumption.
EBRD has helped the Armenian government develop a comprehensive action plan setting out a number of cleaner energy development measures.
EBRD and the Caucasus and Central Asia together with Armen Movsissyan, the Minister of Energy and Natural Resources signed a memorandum of understanding on a Sustainable Energy Action Plan for Armenia.
The initiative aims to assist Armenia in reducing the energy intensity of its economy.
It also promotes energy efficiency investments in a wide range of national economy sectors, including power and energy, industry, agriculture, municipal and environmental infrastructure, property as well as the residential sector.
The new plan focuses on the promotion of energy efficiency across industrial and residential sectors, helping Armenian companies and households to considerably reduce their energy consumption and costs.
The plan also assists Armenia for the development of hydro power plants, which remains untapped due to the constrained financial environment.
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