Armenia seeks to attract up to USD 300m of wind investments

The government of Armenia hopes to attract between USD 200 million and USD 300 million (EUR 284m) of investments for the construction of local wind farms through the end of the decade.

Deputy Minister of Energy Infrastructures and Natural Resources, Hayk Harutyunyan, said on Wednesday as cited by ARKA News Agency that these funds are needed for the addition of 200 MW of wind power capacity by 2020.

According to the minister, investors from Iran, Italy, Spain, China and Georgia have shown interest in such projects. Moreover, Polish investors have been making measurements in Sisian for almost a year now.

He has added that the ministry had recently discussed a 50-MW wind project with Iranian firm Matha.

At present, Armenia has just two wind farms.

(USD 1.0 = EUR 0.946)

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