popular articles

The World Bank supports Armenia’s energy transition

The World Bank approves $40 million in financing to support Armenia's energy transition, aimed at modernizing transmission infrastructure and promoting renewable energies.
Banque mondiale financement Arménie

Please share:

The World Bank has approved $40 million in financing for the “Enabling the Energy Transition” project in Armenia. This project is part of Armenia’s Energy Sector Development Strategy up to 2040. The main objective is to rehabilitate electrical transmission substations, adopt reforms enabling the transmission company to access private financing, and promote modernization of the energy sector and regional cooperation. Armenia’s dependence on imported fuels, particularly natural gas, poses significant risks to energy security, exacerbated by the global energy crisis. By 2021, 62% of Armenia’s total energy supply will come from natural gas, followed by oil (16%), nuclear power (14%) and hydroelectricity (5%). Non-traditional renewable energy sources, such as wind and solar, accounted for only around 1%.

Reducing greenhouse gas emissions

Carolin Geginat, World Bank Country Manager for Armenia, said:

“To ensure an affordable, reliable and clean electricity supply for consumers, Armenia needs to continue investing in modernizing the electricity transmission network and improving the commercial viability of the High-voltage Electric Networks of Armenia JSC transmission company. In addition, we expect this project to help reduce greenhouse gas emissions, which are crucial to mitigating climate change.”

The project aims to integrate around 1.1 GW of renewable energy generation capacity into the transmission grid by 2032, enough to power more than 690,000 homes. This will reduce annual greenhouse gas emissions by 540,000 tonnes. In addition, the project seeks to attract $550 million in private investment, upgrade all transmission substations with automated control and digital protection systems, and increase total transmission substation capacity from 2,711 MVA to 3,109 MVA.

Regional impact and private investment

The project is part of the $2 billion ESCARES MPA (Europe and Central Asia Renewable Energy Scale-Up Multiphase Programmatic Approach) program, approved by the World Bank’s Board of Directors on March 28, 2024. The aim of ECARES MPA is to increase renewable energy production capacity in participating countries in the Europe and Central Asia region, support the acceleration of their energy transition and achieve significant impacts through private investment, while promoting knowledge sharing on a regional scale. The integration of new renewable energy generation capacity and the modernization of transmission infrastructure are designed to boost the efficiency and reliability of the Armenian power grid. These efforts will also help to reduce the energy sector’s environmental footprint, in line with global objectives to combat climate change.
The World Bank and Armenia hope that these initiatives will attract the considerable private investment needed to finance the large-scale projects required in the sector. The success of this energy transition could serve as a model for other emerging economies in the region, demonstrating the benefits of investing in transmission infrastructure and promoting renewable energies.

Register free of charge for uninterrupted access.

Publicite

Recently published in

French electricity exports generated a record €5 billion in 2024, driven by increased volumes despite falling market prices. Italy, Germany, and Belgium are among the main importers.
France’s electricity exports generated €5 billion in 2024, an unprecedented level driven by increased volumes despite declining market prices. Italy, Germany, and Belgium were among the main importers.
France’s electricity exports generated €5 billion in 2024, an unprecedented level driven by increased volumes despite declining market prices. Italy, Germany, and Belgium were among the main importers.
Engie announces an exceptional increase of €50 for energy vouchers benefiting eligible customers and doubles its contribution to the Housing Solidarity Fund (FSL). This measure comes as rising electricity taxes impact consumers.
Engie announces an exceptional increase of €50 for energy vouchers benefiting eligible customers and doubles its contribution to the Housing Solidarity Fund (FSL). This measure comes as rising electricity taxes impact consumers.
La Lituanie, la Lettonie et l'Estonie vont couper leurs derniers liens avec le réseau électrique russe. Ce basculement, prévu le 8 février, marque leur intégration complète au réseau européen après des années de préparation et d'investissements.
La Lituanie, la Lettonie et l'Estonie vont couper leurs derniers liens avec le réseau électrique russe. Ce basculement, prévu le 8 février, marque leur intégration complète au réseau européen après des années de préparation et d'investissements.
Indonesia must manage ambitious climate commitments while maintaining energy stability. The Just Energy Transition Partnership (JETP), aimed at mobilizing $20 billion, faces financial obstacles and uncertainties regarding international funding.
The recent changes in U.S. tariff policies could affect the global energy industry, particularly trade in key products such as natural gas and renewable energy equipment.
The recent changes in U.S. tariff policies could affect the global energy industry, particularly trade in key products such as natural gas and renewable energy equipment.
The Vietnamese government is adjusting its timeline for the implementation of its carbon market. Initially planned for 2028, the official launch will now take place in 2029 after a three-year pilot phase. This delay aims to strengthen the regulatory and technical framework.
The Vietnamese government is adjusting its timeline for the implementation of its carbon market. Initially planned for 2028, the official launch will now take place in 2029 after a three-year pilot phase. This delay aims to strengthen the regulatory and technical framework.
The European Union launches an emergency consultation with automakers to accelerate the transition to electrification in response to current competitive and regulatory challenges.
The European Union launches an emergency consultation with automakers to accelerate the transition to electrification in response to current competitive and regulatory challenges.
The BloombergNEF 2024 report reveals a historic record of global investments in the low-carbon energy transition, driven by electrified transport, renewable energy, and power grids.
The High Council for Climate (HCC) presents six conditions for the energy transition. The opinion outlines areas to strengthen, particularly regarding budget mobilization and planning for the phase-out of fossil fuels.
The High Council for Climate (HCC) presents six conditions for the energy transition. The opinion outlines areas to strengthen, particularly regarding budget mobilization and planning for the phase-out of fossil fuels.
At the heart of the vast northern expanses, Sami communities see their ancestral ways of life challenged by the rise of renewable projects. A factual narrative revealing the tensions between economic modernization and the preservation of millennia-old traditions.
At the heart of the vast northern expanses, Sami communities see their ancestral ways of life challenged by the rise of renewable projects. A factual narrative revealing the tensions between economic modernization and the preservation of millennia-old traditions.
The 15% tariff reduction affects over 24 million subscribers in France, with disparities depending on regulated and market offers, amid fluctuations in energy costs, taxes, and transmission fees.
The 15% tariff reduction affects over 24 million subscribers in France, with disparities depending on regulated and market offers, amid fluctuations in energy costs, taxes, and transmission fees.
Myanmar faces recurrent power outages linked to civil conflict and outdated infrastructure, affecting daily life and economic activities.
The Greenfin label, launched in 2013, is being updated to better match European requirements, particularly in sustainable finance and climate objectives. The revisions published on January 29, 2025, strengthen its alignment with the green taxonomy and European standards.
The Greenfin label, launched in 2013, is being updated to better match European requirements, particularly in sustainable finance and climate objectives. The revisions published on January 29, 2025, strengthen its alignment with the green taxonomy and European standards.
The US Senate has approved the nomination of Lee Zeldin to lead the EPA. The choice made by Donald Trump has been praised by fossil fuel industry players but criticized by environmental NGOs.
The US Senate has approved the nomination of Lee Zeldin to lead the EPA. The choice made by Donald Trump has been praised by fossil fuel industry players but criticized by environmental NGOs.
Sylvain Waserman, CEO of Ademe, reaffirmed the importance of the ecological transition agency during his testimony before the Committee on Sustainable Development, highlighting its key role in reducing France’s energy dependence.
Sylvain Waserman, CEO of Ademe, reaffirmed the importance of the ecological transition agency during his testimony before the Committee on Sustainable Development, highlighting its key role in reducing France’s energy dependence.
The Norwegian Sovereign Fund posted a historic return of 214 billion euros in 2024, driven by investments in major tech companies. However, the dominance of these giants is now being questioned.
In response to geopolitical and economic challenges, the European Union is realigning its energy policy to enhance its competitiveness. Regulatory simplifications and efforts to secure energy supplies are at the heart of the new strategy, while maintaining environmental commitments.
In response to geopolitical and economic challenges, the European Union is realigning its energy policy to enhance its competitiveness. Regulatory simplifications and efforts to secure energy supplies are at the heart of the new strategy, while maintaining environmental commitments.
The Constitutional Council censored a retroactive measure aimed at modifying contracts between EDF and renewable energy producers, citing a disproportionate infringement on contractual rights.
The Constitutional Council censored a retroactive measure aimed at modifying contracts between EDF and renewable energy producers, citing a disproportionate infringement on contractual rights.
The Zambia-Tanzania Interconnector (ZTIP) project, backed by international financing, aims to strengthen electrical exchanges between Zambia and Tanzania, with major implications for energy integration in sub-Saharan Africa.
The Zambia-Tanzania Interconnector (ZTIP) project, backed by international financing, aims to strengthen electrical exchanges between Zambia and Tanzania, with major implications for energy integration in sub-Saharan Africa.
The U.S. Department of Energy grants Pacific Gas and Electric a loan to modernize infrastructure, integrate more renewables, and improve grid reliability.
As the United States considers another withdrawal from the Paris Agreement, major economic powers organize to maintain leadership in a rapidly transforming energy sector.
As the United States considers another withdrawal from the Paris Agreement, major economic powers organize to maintain leadership in a rapidly transforming energy sector.
Zhecho Stankov, Bulgaria's new Minister of Energy, emphasizes energy security and supply diversification while aligning with European goals for sustainable transition.
Zhecho Stankov, Bulgaria's new Minister of Energy, emphasizes energy security and supply diversification while aligning with European goals for sustainable transition.
The Indonesian government’s plan to convert 20 million hectares of forests for food and energy sparks criticism from NGOs, which warn of irreversible environmental consequences.
The Indonesian government’s plan to convert 20 million hectares of forests for food and energy sparks criticism from NGOs, which warn of irreversible environmental consequences.

Advertising