Armenia has built a viable energy system and now aims to develop less costly sources of energy and increase the energy diversification. Energy security and energy independence represent two important elements of the national security strategy of Armenia. Hence, the development of the energy sector has always been an issue of primary importance within the government’s agenda of economic reform. The country has potential to quintuple the contribution of renewable electricity between 2010 and 2020. Wind energy potential estimated at 470 MW with an annual generation of 1,360 GWh.
The Armenian government adopted the National Energy Security Concept in 2013 (in support of its Economic Development Strategy to 2025), outlining strategies for fuel diversification mainly through renewables, nuclear power, building up fuel reserves and increasing its electricity generation capacity. Numerous strategies and action plans have been developed on the basis of the concept, supporting ambitious targets for replacing 1,000 MW nuclear capacity by 2026 and reaching a 26% renewable energy share in the country’s energy mix by 2025 (up from 7% in 2012).
The country’s main strategy to meet the growing need of power is to reduce the energy dependency by increasing the energy efficiency, increased use of renewable resources, and connecting to the power infrastructure of Commonwealth Independent States (CIS).
- Snapshot of the country’s renewable power sector across parameters - country overview, current power and renewable power market status, electricity market structure, key issues, future plans and strategies to meet increasing power demand, and way forward.
- Statistics for cumulative and annual installed renewable power generation capacity of from 2012 to 2017.
- Statistics for cumulative and annual revenue of renewable power plants from 2012 to 2017.
- Break-up by power generation technology, including thermal, hydro, renewable and nuclear
- Data on key issues witnessed in the Armenian renewable power sector.
- Information on future plans and strategies to meet increasing power demand.
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the country’s renewable power sector
- Facilitate decision-making based on strong historic and forecast data
- Develop strategies based on the latest regulatory events
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business development opportunities
1.1 Research Methodology
2 EXECUTIVE SUMMARY
3 ARMENIA RENEWABLE POWER MARKET IN 2017
3.1 Country Overview
3.2 Current Status of Renewable Power Market in Armenia
3.3 Key Issues
3.4 Investment Trends and Development Roadmap to Meat Increasing Power Demand
3.5 Cumulative (CAGR) Installed Renewable Power Capacity and Revenue
3.6 Annual Installed Renewable Power Capacity and Revenue
3.7 Support Schemes
4 CONCLUSIONS AND RECOMMENDATIONS
5 LIST OF ABBREVIATIONS
Chart 1: Share of Renewable Power (Solar, Wind, Biomass, Hydro and Geothermal) from Total Installed Power Generation Capacity in Armenia in 2016
Chart 2: Armenia Total Annual Electricity Consumption (in TWh) 2000 ÷ 2016
Chart 3: Armenia Power Generation Capacity Breakdown by Source (Fuel) Type in 2016 (incl. Renewables)
Chart 4: Structure of Electricity Power Market in Armenia
Chart 5: Cumulative (CAGR) Installed Renewable Power Capacity (Solar, Wind, Biomass, Hydro and Geothermal) in Armenia (in MW) 2012 ÷ 2017, including forecast
Chart 6: Cumulative (CAGR) Revenue of Renewable Power Plants (Solar, Wind, Biomass, Hydro and Geothermal) in Armenia (in Millions USD) 2012 ÷ 2017, including forecast
Chart 7: Annual Installed Renewable Power Capacity (Solar, Wind, Biomass, Hydro and Geothermal) in Armenia (in MW) 2012 ÷ 2017, including forecast
Chart 8: Annual Revenue of Renewable Power Plants (Solar, Wind, Biomass, Hydro and Geothermal) in Armenia (in Millions USD) 2012 ÷ 2017, including forecast