The ZAO International Energy Corporation, a division of Russia’s Unified Energy Systems, has drawn up a plan to invest US$26M to modernise the Yerevan hydroelectric power plant in Armenia, according to the Interfax news agency.

The programme will last 3-4 years, and will include funding worth US$19.4M from Germany’s KfW bank. It has been submitted to Armenia’s public services commission, and will be implemented if it receives the commission’s approval.

The modernisation work will not result in an increase in Yerevan’s electricity production.