The electricity sector in the Black Sea region and neighbouring countries has gone through a significant transformation in the past decade. Significant advantages for renewable energy producers have been introduced across the countries, such as feed-in tariffs, renewable energy zones, green certificates, and many more attractive incentives. Local energy demand in the countries is forecast to grow in line with the GDP. Moreover, achieving energy security is at the top of the authorities’ agenda for many countries, thus utilizing vast renewable energy potential is of great importance.
In line with this development, the GEFF in Armenia participated in the investment forum “Energy Week Black Sea 2020”, which was held as online conference on September 29/30, 2020. The virtual event brought together authorities and energy companies from Georgia, Ukraine, Turkey and other regional countries as well as international financial institutions and major multinational investors and consultancy firms for a dialogue aimed at fostering the deployment of renewable energy and attracting foreign direct investment.
Through a series of presentations, discussions and networking sessions, the more than 250 participants developed a shared understanding of the current situation as well as the experiences and challenges faced. The GEFF in Armenia was represented during the discussions on local and regional initiatives as well as innovative financing options.
Excursus: The forum presents prospects for the development of the energy sectors of the countries of the region, and creates conditions for identifying the available potential for international cooperation since 2008. For example, the Energy Week Armenia took place in Yerevan in 2018 and brought together participants from 15 countries.
Subscribe to our quarterly newsletter