Launch of the Armenian NPP Unit 2 life extension program was delayed because of late approval of the agreements by the Russian Finance Ministry, Deputy Minister of Armenia's Ministry of Energy and Natural Resources Hayk Harutyunyan stated in Armenian parliament today.
According to him, within the loan program of the Russian government on the extension of the NPP life cycle it was planned to provide 10.5bln AMD in 2015, 3.7 of which have already been used. At the same time within the grant program it was planned to provide 3.1 bln AMD, which have not been spent yet.
To note, the agreements should have been signed in June 2015, however the Russian Finance Ministry approved them in December only. The program of the Nuclear Power Plant Unit 2 extension is financed by Russia, which provides 270 mln USD loan and 30 mln USD grant. Due to the program implementation the life cycle of the NPP will be extended till 2026.