Armenia will need $2 billion to resolve energy efficiency problems

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YEREVAN, February 21. /ARKA/. Armenia will need at least $2 billion to resolve energy efficiency problems, Deputy Prime Minister Tigran Avinyan said at a government meeting on Thursday.

According to him, 60 energy efficiency projects are underway now involving both public and government buildings (overall, more than 1,560 buildings). He said when over these projects will allow to reduce energy costs by 55-60% on average.

“The bottom line is that package offers for residential buildings will allow their residents to reduce gas and electricity costs,” Avinyan said.

In his words, this market is estimated at $2 billion, and therefore all partners, banks and other entities should be included in the implementation of energy efficiency projects.

Minister of Territorial Administration and Infrastructures Suren Papikyan noted that energy efficiency subvention projects are already being implemented in the provinces of the country together with the UN.

“We have now a proposal to improve energy efficiency systems in 115 buildings, which includes coating and thermal insulation and will also make buildings more colourful,” Papikyan said.

Minister of Environment Erik Grigoryan noted that the UN Green Climate Fund provided a grant of $20 million, of which $ 14 million will be allocated to energy-efficient projects in public and residential buildings.

He said many communities have already submitted subvention projects and, if approved this year, they will be implemented with the co-financing of the Fund.

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