Investment Opportunities in Renewable Energy
Armenia has significant indigenous renewable energy resources, and an educated workforce with extensive scientific and engineering expertise. Furthermore, the Government has taken proactive steps in recent years to craft laws and regulations designed to reform the power sector to enable private sector involvement in renewable energy sector development.
Renewable energy resource potential in Armenia by technology:
| Technology | Capacity (MW) | Generation (GWh/yr.) |
| Wind | 795 | 1,640 |
| Utility scale solar PV | 835-1,169 | 1,735-2,118 |
| Concentrating solar power | 1,169 | 2,400 |
| Distributed solar PV | 93 | 128 |
| Geothermal power | 31-54 | 244-436 |
| Landfill gas | 2.3 | 20 |
| Small hydro power | 91 | 334 |
| Biogas | 3.3 | 26 |
| Biomass | 29 | 228 |
| Solar thermal hot water | 200 | 254 |
| Geothermal heat pumps | 3,500 | 4,423 |
From 2016 up to June 2017, “Armenia Renewable Resources and Energy Efficiency Fund” (R2E2) (the Fund) has been implementing the assessment of solar potential of Armenia with the World Bank assistance as a result of which currently we have solar maps of Armenia (DHI, DNI, GHI and Yield) with high accuracy. more
According to the Armenian Wind Atlas developed in 2002-03 by The United States National Renewable Energy Laboratory (NREL) in collaboration with SolarEn Co (Armenia) the most perspective areas for grid connected wind power development in Armenia from purely wind power resource point of view are corresponds to the wind Class from 4 to 7 (Good and Excellent classes). Table and figure bellow summarise the results of Wind Atlas for this territories of Armenia. more
As a land-locked country without any significant deposits of crude oil, Armenia is 100% dependent upon fuel imports to meet a growing demand for petrol in the motor transport sector. Moreover, dramatic increases in world crude oil trading prices over the past year are already being passed onto and reflected at retail petrol outlets. In addition, prices for petrol in Armenia are expected to increase at an even more rapid rate in the future as long-term import contracts lapse and are renegotiated at higher market prices over time. more