The plan-schedule of new nuclear power unit in Armenia will be developed by September 2017, as the action plan of the Armenian Government says confirmed on 12 January 2017. The launch of new power unit development of the Armenian Nuclear Power Plant is planned for 2018, while putting into service is planned for 2026. In the same year the second operating power unit will be taken out of service. The term of this power unit expired in 2016.
Nevertheless, the government decided to extend the operation lifetime of the second power unit for another 10 years taking into consideration the serious lack of basic capacities. For this purpose, Russia has granted a loan of US $ 270 million and a grant of 30 US$ million to Armenia.
It's still a question whether Armenia will find investors for the construction of a new power unit and whether it will be put into operation in 2026. In this regard, Armen Manvelyan, a PhD in History, wrote in his monography entitled 'Energy Safety and Geopolitical Challenges in Caucasian and Caspian Area', 'The Russian side says that the approximate value of the new power unit will make up 4-5 billion USD. The costs of the new power unit arises certain questions with experts, as it's unclear why this price is mentioned when 'Rosatom' requires only US$ million from India for a similar NPP.
The Russian side stated it's willing to implement this program and invest 20-25% of the costs – around US$1 billion, but the international tenders announced for the construction of the nuclear power plant were left unanswered by other investors. The latter don't hurry to provide money for this program, as they don't see the business perspective of the new nuclear power unit, besides many investors don't want to cooperate with the Russian side. Consequently, the construction of the NPP will be feasible, if Russia makes a political decision and finance the whole construction of the nuclear power unit, as it will be difficult to expect any economic profit from this program for the upcoming several years.'
The Armenian nuclear power unit ensures around 40% of the electricity production in the country. A question arises what Armenian nuclear power unit will face, if the new power unit is not constructed by 2026.
17:16 January 12, 2017