Armenia may become a good market: American investors interested in Armenia’s energy sector
A conference on prospects of renewable energy kicked off in Armenia. The conference brought together 70 Armenian companies and several leading American renewable energy companies, which will present their development experience and technologies of green energy and smart-electric devices.
US Ambassador to Armenia H.E. Richard Mills delivered opening remarks, emphasizing that Armenia and its energy system have recorded big growth in the past 25 years. And in the period of recent 5 years energy production in Armenia, according to the Ambassador, recorded 20% growth.
“Currently there are energy production capacities in Armenia, which means Armenia’s market is enlarging and already regional considerations may be examined here. These opportunities include both traditional energy production and use of new—renewable green energy sources,” the Ambassador said, stressing that purpose of the conference is introduce existent opportunities in energy sector.
“One of the priorities of the activity of US Embassy is strengthening trade, investment, commercial ties between the two countries. I consider energy is the sector, in which US businessmen may be interested in, and naturally, it’ll be bilaterally beneficial both for local and American businessmen.”
Asked what the support of the American side will be, he replied that the Embassy can’t give any guarantees on results, “Our job is that we gather American businessmen, potential Armenian businessmen of the field, introduce the opportunities, support in development of dialogue.”
The Ambassador said American companies are highly interested in the field.
168.am asked head of one of such companies— MacLean power Systems International—Margaret MacLean by what Armenia attracts their company. “I see big potential in the field of energy in Armenia. Armenia may become a good market and there are big perspectives for development in this regard,” she said.
As for the activity of the company, she said their company is specialized in the field of production of power transmission and distribution equipment.
Regarding investments MacLean stated that they take part in the conference to understand what development mechanisms Armenian market seeks and how they intend to spread their work in the field, “Firstly, we’ll study the brunch of industry and the direction of village energy supply—directions, which may gain the most benefit from positive move of this field.”
Hayk Harutyunyan, Deputy Minister of Energy Infrastructures and Natural Resources, expressed interest of American companies by the fact that implemented reforms in Armenia, investment projects had such a reflection that foreign companies intend to invest in the very field of renewable energy.
In his words Armenia’s energy sector is rather attractive for all investors, as, according to him there is a field of predictable settlement, financially stable energy system, clearly developed investment projects and there are guarantees enshrined by the law, “If the market is guaranteed at least by 15-20 years, the resource is rather good, the settlement field is good, legislative mechanisms are in their place, we may say conditions are ideal for investors.”
By Razmik Martirosyan
