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Unternehmensantwort

22 Jul 2022

KfW response to EECA hydropower investor outreach

... KfW support to Small-hydro power plants, Armenia:

KfW is aware of the general concern over the environmental issues related to small hydropower sector, therefore KfW has arranged additional measures to minimise the risk of negative impacts on the environment. Particularly, a strategic cooperation with WWF to exclude controversial SHPPs in Armenia is established, certain projects in risky areas are excluded from the eligible list.

KfW support to Vorotan Cascade, Armenia: Vorotan Cascade, consisting of 3 hydro plants which supply 20% of Armenia’s energy was built between 1970 and1989. The plant saves around 540.000 tons of CO2 per year. Since the construction of the Vorotan cascade, the operator lacked the capacity for rehabilitation measures. As a result, the three plants were in need of repair and could not produce optimal output for current or future energy needs.

KfW was asked to provide a loan to the Armenian government for rehabilitation and modernisation of the power plant. The loan agreements were signed between the Armenian government and KfW in 2010 and re-enforced after the privatization of the power plant. An Environmental and Social Impact Assessment (ESIA) with an Environmental and Social Management Plan (ESMP) were developed and an additional ecological specialist study has been conducted. The implementation of the ESMP is closely monitored and reported upon. The rehabilitation of the Vorotan Cascade has been mainly finalized in December 2021. ...

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