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    Banking: Improving Energy Access in Armenia


    December 2, 2022 - ForeignAffairs.co.nz

     

      Source: Asia Development Bank

      While Armenia has made great strides in providing electricity to its almost 3 million inhabitants, the country remains heavily reliant on imports of oil and gas to meet its energy demands. Most of Armenia’s Soviet-era power infrastructure is in poor condition, leading to blackouts and technical and financial losses for its energy sector.

      As one of Armenia’s largest development partners, the Asian Development Bank (ADB) has been helping Armenia improve power generation and transmission while reducing carbon emissions that exacerbate climate change. Watch now to learn how ADB has helped Armenia’s journey to more sustainable energy through both sovereign and private sector financing.

      Transcript

      Electricity in Armenia is becoming more reliable as the country moves towards more sustainable energy systems.

      While this Caucasus nation is fully electrified, much of its Soviet-era power infrastructure is in poor condition leading to blackouts and financial losses in the power sector.

      ADB has been helping Armenia improve power generation and transmission while reducing carbon emissions that exacerbate climate change.

      Paolo Spantigati

      Country Director

      ADB Armenia Resident Mission

      “Armenia is working very actively not only with the government but with the private sector.

      ADB’s focus is to support the move towards a low-carbon transition by developing renewable energy as well as energy efficient technologies.”

      ADB helped the private sector rehabilitate four hydropower plants built in the 1930s-1960s, enhancing safety and boosting generation capacity by 45 megawatts.

      ADB helped the government make the electricity transmission and distribution network more efficient by expanding control and management systems, rehabilitating 890 kilometers of distribution lines and 1,200 transformers, and installing 387,000 automatic meters.

      Hakob Vardanyan

      Deputy Minister

      Ministry of Territorial Administration and Infrastructure

      “Thanks to the support of ADB, in cooperation with the operation of the High Voltage Electric Networks (HVEN), we were able to modernize the accounting system of all high-voltage electrical networks by implementing the Supervisory Control and Data Acquisition (SCADA) system which can be accessed online.

      ADB has also supported high-voltage power grids during substation reconstruction programs and has always been one of our most reliable partners.”

      ADB also provided working capital to the country’s sole energy distributor amid financial difficulties during the COVID-19 pandemic.

      Karen Harutyunyan

      General Director

      Electric Networks of Armenia

      “The investment programs of ENA are very important in the energy system of Armenia, and all these programs have been implemented since 2016 mainly as a result of cooperation with ADB.”

      As Asia and the Pacific’s climate bank, ADB will continue helping Armenia to boost energy efficiency and expand access to reliable, affordable, and sustainable energy.

      MIL OSI Global Banks -

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