At the presence of the Prime Minister of the Republic of Armenia Nikol Pashinyan, the new gas-fuelled power plant built by Renco and Siemens in 28 months of work was inaugurated in Yerevan. These days the new power plant, which has been in operation since the beginning of October, will come on stream at full capacity, supplying 20% of the country's electricity. For almost three years, a peak of 1,500 people, both directly and indirectly connected to the Company, have been working on the site. Started up at the
beginning of October, the power plant was developed by Renco in cooperation with the government of the Armenian Republic. The investment for the plant was $258 million with the participation of multiple investors, including the World Bank.