Thursday, 12 February 2009
The Renewable Energy and Energy Saving Foundation of Armenia (REESF) Board of Trustees met at the Office of Government, presided at by BoT Chairman, RA Prime Minister Tigran Sargsyan.
The Foundation seeks to facilitate investments in the spheres of renewable energy and energy saving and promote the development of renewable energy and energy saving markets in Armenia.
Based on the comments and proposals made during the discussion, the Board of Trustees approved the 2008 REESF performance report, the report on the fulfillment of the assignments given at the previous meeting.
REESF Director Tamara Babayan said that a number of projects launched in 2006 continued to be implemented during 2008, inclusive of the World Bank-supported Urban Heating Lending Project, the “Global Environmental Action” Trust Fund-financed Renewable Energy Grant Project, as well as the World Bank and RAGP-co-financed Gas and Heat Supply Grant Project. Ms. Babayan gave information on program budgets and compliance indicators, procurements and overall performance.
The REESF Director noted that all of the assignments issued at the previous meeting have been complied with in full and in time. In particular, she advised that preparations for the Geothermal Project have been completed already. Talks were held between the World Bank and the Armenian delegation on January 29, 2009, leading to a co-financing arrangement with USD 1.5 million available from the Bank as a grant and USD 300.000 allocated from the Republic of Armenia State budget (17% of total expenditures). The program is due to be completed in 2010. Tamara Babayan said that considering that the program will be carried out on a seasonal basis, the Foundation has already launched a tender process with a view to signing the necessary contracts as soon as the program is effective.
Account taken of the observations and suggestions made during the meeting, the Board of Trustees passed a number of decisions concerning the Urban Heating Project, the procurement plans of Renewable Energy and Gas and Heat Supply programs, consolidated program budgets, the Foundation’s agency remuneration and maintenance cost estimate for FY 2009, the list of vulnerable households eligible under the Renewable Energy and Energy Saving Program, heat (heating and hot water) supply rehabilitation in 7 urban boarding schools under the Urban Heating Project, as well as concerning the decisions passed on the rulings of tender commissions dealing with the purchase of commodities, works and services for the Installation of Individual Gas Heaters in Vulnerable Households program.
The Board of Trustees was provided information on the loan proceeds extended to Arguishti Condominium as a preparations advance for pilot projects under the Urban Heating Program. It has been decided to exempt the Condominium from fines and penalties only upon repayment of the credit sum.
