Electric Networks of Armenia Closed Joint-Stock Company Investment Program Phase 2 Project signed
On 13 September, the Asian Development Bank (ADB) and Electric Networks of Armenia Closed Joint-Stock Company (ENA) signed a $35 million deal to improve electricity distribution networks to ensure reliable electricity supply in Armenia, particularly in the provinces.
The Leading Asia’s Private Infrastructure Fund (LEAP) administered by ADB, provided $15 million to supplement the $20 million loan from ADB. The project will fund the second phase of ENA’s long-term investment program, which aims to further expand electricity access in Armenia’s provinces.
Phase 1, that was funded by ADB through a $80 million was implemented in 2016 and was focused in improving the electricity network in the capital Yerevan. Phase 2 will reconstruct the distribution network, upgrade outdated substation equipment, reconstruct cable lines, repair, and renovate ENA’s facilities, and install new customer connections. It will also expand automatic electricity metering, enabling ENA to pinpoint losses and reduce operating expenses.