Armenia Renewable Resources and Energy Efficiency Fund

Armenia Renewable Resources and Energy Efficiency Fund started its operation since November 2005. It implements grant and credit projects targeted at the development of Energy Efficiency and Renewable Energy sectors in Armenia.

Having no own fuel resources, Armenia has to manage existing energy sources to the maximum of efficiency.

To this end, the Government of Armenia adopted strategic supremacy of Renewable Energy and Energy Efficiency sectors and facilitation of investments in the mentioned sectors.

The outcomes of efficient cooperation between the Government of Armenia and the World Bank are the following projects: Urban Heating Project Credit Project, Renewable Energy  Credit Project, GEF Trust Fund financed Renewable Energy Grant Project,  Global Partnership for Output Based Aid (GPOBA) Trust Fund financed Gas and Heating Grant Project.

Urban Heating Project

• Development of enabling environment for effective and safe provision of heating services;
• Lending to beneficiaries for heating of residential apartments;
• Capital grants to the poor (about 9000 poor households);
• School heating (rehabilitation of heating systems of 100 urban schools);

Gas and Heating Project

• Grant to the poor for heating (gasification of apartments, installation of heaters or connection to the heating system of 8,000 households)

Renewable Energy Project

• Lending for SHPPs and wind plants;
• Development of enabling environment for facilitation of investments;
• Identification and development of
  • wind and solar energy,
  • Biogas, bio-ethanol,  hydrogen energy,
  • Other renewable energy resources.

The main objectives of the Fund are to facilitate investments in EE and RE sectors, promote the development of EE and RE markets in Armenia and increase the use of clean, efficient, safe and affordable heating technologies in multi-apartment buildings and schools in Armenia.

You can see  the financial statements and independent auditor`s report here

Proshyan 1st lane, 32 apt., Yerevan, RA Tel.: (374-10) 588011, 545121. Fax:541732, E-mail: info@r2e2.am, URL: www.r2e2.am

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