Armenia to build most low-cost TPP in 26 months

The energy market model in Armenia will be improved and the sector will shift from the single buyer-seller model to a more liberal model, according to caretaker minister of energy and natural resources Garegin Baghramyan.

Speaking at a press conference today, he said that a competitive arena will be created in the energy sector.

“Each circle will be responsible for the problems it has caused. As a result of the new market model it is envisaged to ensure increase in the inter-border trade, which will enable to import cheaper electricity energy,” he said.

Speaking about the ministry’s activities of the past six months, he pointed out the contract on building a new combined steam-gas cycle power block in the territory of the Yerevan TPP.

He said it will be the most low-cost thermal plant in Armenia. “The construction process will last 26 months. The unit will have 250 employees”, he said.