Thursday, December 25 2014

Russian and Armenia have lately signed an intergovernmental agreement on
cooperation to prolong the lifespan of the second power unit of the Armenian
Nuclear Power Plant (ANPP). 

 

On December 25, the Russian Government considered
provision of a USD 270 million loan to Armenia for prolongation of the ANPP
lifespan, the press service of the Russian Government reports. 

 

The project envisages provision of a USD 270 million
state export loan for up to 15 years. 

 

Earlier it was reported that under the loan agreement
Armenia is to use the Russian loan to take the relevant measures to prolong the
lifespan of the ANPP's second power unit from 2016 till 2026. Armenia will use
the loan in 2014-2018 and is to repay it within 10 years at 3% p.a. by paying
equal tranches once every six years. The first payment is to be done on 15
January 2019. The Russian loan will be provided in Russian rubles. In addition
to the USD 270 million loan, Russia will also grant $30 million to Armenia.

 

To note, the Armenian APP consists of two power units
with the capacity of 400 megawatt each. But only one of these two power units
is operating at present. The first unit was commissioned in 1976, the second
one in 1980. At the beginning of 1989, the plant was decommissioned for
political reasons. In early 1995 the second unit was re-launched. The ANPP's
power output makes up nearly 45% of the total power generated in the republic. The
lifetime of the unit expires in late 2016.