Armenian representatives at the European Commission have reported that the Euro- pean Union (EU) will be providing 3M euros (US$2.69M) to Armenia for the modernisation of the Tatev and Argel hydroelectric power plants, according to the Snark news agency.
The representatives also reported that the EU is considering providing funds to Armenia for the development of its hydroelectric power resources as alternatives to nuclear power. The EU expects to receive feasibility studies from Armenia for these projects shortly.
Armenian and Iranian officials are also expected to sign an agreement for the joint construction of the 78.9MW hydro power plant on the Araks river which borders Iran. The plant will cost US$56M to construct and is expected to be completed within 5.5 years.
Meanwhile, Armenia’s National Statistics Office has reported that the country generated 1.17TWh of hydroelectricity in the first 11 months of 2000, accounting for 22% of total electricity production. Hydro-electricity production was 4.9% higher than the same period in 1999.