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ArmeriaBank Profits Off Small Hydro Loans

Highlighting the importance of promoting the renewable energy sector for overall economic development, Ameriabank is providing long-term funding for 8 small hydro power plant projects in Vayots Dzor, Gegharkunik and Lori regions of Armenia with overall installed power of 26.08 MWt and expected output of 80.6 mln KWtph.

The small hydro power plant financing project will enhance local power generation capacities and diversify power supply sources by reducing CO2 emissions and shifting from dependence on imported fuel.

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Ceska Sporitelna Bank Finances Wind Power in Bohemia

Ceska Sporitelna financed SVEP A.S. for a start-up project to build a 2 MW Wind Power Plant in the Krusne hory mountains, North Bohemia. The expected annual electricity production of the power plant is 4,958 MWh, which translates into an estimated reduction of GHG emissions by 5,652 tons annually based on the Czech country mix of electricity generation.

The plant is already fully operational and the local authority has issued a temporary license that permits the operation of the wind converter selling the electricity generated to the local distributor, provided that the wind converter operation does not cause any perturbations in the distributor’s grid and that the noise levels stay under the current law. This permit will expire in November 2005 and if the converter complies with the requirements settled by the local authority then a definitive license will be issued.

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