Armenia’s Public Services Regulatory Commission has approved the 2026 investment program for the Armenian Nuclear Power Plant, valued at 4 billion 183 million 900 thousand drams, excluding value-added tax.

“Depreciation of fixed assets commissioned through investments made under the Armenian Nuclear Power Plant investment program will be calculated using the straight-line method, applying an annual depreciation rate of 10 percent,” the justification for the decision said.

The decision will enter into force the day after it is officially communicated to the Armenian Nuclear Power Plant in accordance with the law.

Speaking after the meeting about this year’s projects, Armenian NPP Director Eduard Martirosyan said repairs of the plant’s cooling towers had been completed, while the contractor, Armenian company M Group, still needs to import around 50 million drams worth of goods, Sputnik Armenia reported.

The total volume of work amounted to 100 million drams.

“As for the cooling system for responsible consumers, repair work has already begun. Within the framework of the tender process, the work is being carried out by Rosatom Service, which is part of the Rosatom state corporation. Work started in April. At present, dismantling and parallel installation operations are underway,” Martirosyan explained.

He also referred to metal samples that are to be sent to Russia. According to Martirosyan, the first batch had already been sent in 2025, while the second batch has been removed from the reactor vessel, placed in a special container, and will soon be sent to Russia to assess reserves and conduct calculations on the reactor vessel’s strength.

“The preliminary response regarding the first batch was positive, showing that the annealing process was effective and that, according to updated data, the reactor vessel can operate until 2039. Of course, if necessary, in 2036 we will carry out additional calculations for extending the plant’s operation and, why not, perform annealing again,” the NPP director said.

Martirosyan also stated that construction of the fourth block of the plant’s storage facility should be completed this year. The project designer is a French company that will also oversee supervision.

The Armenian Nuclear Power Plant produces about one-third of Armenia’s electricity. The first power unit was commissioned in December 1976 and the second in January 1980. The Metsamor plant was not damaged during the devastating Spitak earthquake.

The plant’s operation was initially scheduled to end in 2016, but with the participation of Rosatom specialists, its lifespan was extended until 2026. In December 2023, Rosatom Service and the Armenian Nuclear Power Plant signed a framework agreement on implementing measures to extend the station’s operation until 2036.