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The project was approved by a Yerevan City Council's decision N 111-A on 13 February 2018.
The objective of this project is to reduce the energy consumption and associated emissions of greenhouse gases (about 844 tons of CO2 annually) through supporting application of renewable energy sources and energy efficiency measures in multi-apartment buildings of Yerevan.
In the scope of the project support to the multi-apartment building management bodies (condominiums) is offered in managing the energy use through introduction of energy efficiency measures and installing roof top photovoltaic (PV) systems to cover the energy consumption used for common areas.
The revenue generated by the project will allow the condominiums to finance the building's energy efficiency measures.
Actions in Brief:
The proposed action is innovative in nature and is intended to design and test a fundamentally new model of promoting renewable energy generation while supporting the ongoing policy reform in Armenia’s renewable energy and energy efficiency policy, as well as multi-apartment building management legislation.The solution is intended to utilize the EU grant support and Yerevan Municipality’s resources to test and scale out a public-private partnership arrangement which will not only rely on the government and donor support, but bring in private players, thus increasing the chances of longer-term success and replication. The model has a built-in mechanism for sustainable generation of financial revenues which will also ensure the multiplier effect.
The project targets to:
Duration: 01/03/2018 – 01/03/2020 (24 months)
Total Project Budget: EUR 1,250,004.00
EU Contribution: EUR 1,000,000.00
Location: Yerevan, Republic of Armenia
Implementing Partners: Municipality of Yerevan