Norway allocates 180,000 euros to facilitate small hydropower sector of Armenia

PanARMENIAN.Net - On September 7, 2010, Norsk Energi (NE) starts an innovative 4 month training program that will provide multi-stakeholder benefits within the small hydropower sector in Armenia, working in close partnership with local Partner Hydroenergetica.

The program is financed by the Norwegian Ministry of Foreign Affairs to develop and execute a technical capacity-building program for the small hydropower sector, Head of the Project of Norsk Energi, Eun Joo Yi, said during the new initiative’s presentation in Yerevan.

According to her, Norway has allocated 180,000 euros for the project implementation.

The project is actively supported by Ameriabank, as a leader in financing small hydropower sector in Armenia, as well as by the RA Ministry of Energy, the RA Ministry of Environment, GAF-RE-KfW and Yerevan State University of Architecture and Construction. These starting contributions and support help the long-term adoption of new training methods and materials through the promotion of public and private stakeholder interest in Armenia energy independence.

The objective is to assist in securing energy independence and promoting economic development. Through Norsk Energi's program implementation the small hydropower sector will support the growing demand for higher technical and environmental quality standards, create potential jobs for recently accomplished technical graduates, but will also bring Armenian and international investment organizations. The training program includes voluntary participation of owners of 4-6 new or already operating small hydropower stations, which will be provided with a pre-feasibility report and business plan.

CEO of Ameriabank CJSC Artak Hanesyan said for his part that the program will significantly facilitate education of young specialists in hydro energy sector. He expressed willingness to organize an internship for the best students, as well as provide then with job in future.