The Armenia Renewable Resources and Energy Efficiency Fund (R2E2) asked DHInfrastructure and engineering firm Black & Veatch to assist with the preparation of a renewable energy investment plan, which would be used to apply for funding through the Climate Investment Funds Scaling Up Renewable Energy Program (SREP). The objective of the Investment Plan was to bring together all prior analyses of renewable energy carried out in Armenia, and carry out more in-depth resource and financing modeling to identify the best renewable energy options in Armenia. The project involved the assessment of the potential for developing the following renewable resource options: wind power, solar PV and solar thermal power, geothermal power, biomass, landfill gas, wastewater treatment plant gas, biomass, and solar thermal and geothermal heating. It also involved working with a diverse set of national and international stakeholders from industry, academia and government to choose renewable energy options for investment. We led a team of national and international technical consultants to carry out the renewable energy resource assessment and the financial analysis of potential renewable energy resource options. We then built financial models of dozens of renewable energy resources, and used dispatch modeling software to evaluate the impact of various renewable energy resources on Armenia’s future energy supply. As a final output, we developed a complete investment plan proposal, which involved identifying specific investment opportunities and also specifying the sources of funding for each of these opportunities.
