The Armenian government has approved the provision of a budget loan of 20.1 billion drams to the Armenian Nuclear Power Plant. The funds will be used for works on the re-extension of the service life and modernization of the plant's second power unit.

This is a continuation of the large-scale modernization program for the ANPP. Between 2020 and 2025, the plant already received budget funding of 63.2 billion drams for the first stage of modernization, which allowed extending the power unit's operation until 2026.

In September 2023, the Armenian authorities approved a new program providing for a further extension of the second unit's operation until 2036. The total project funding is estimated at 160 million dollars.

The Armenian NPP, located near the city of Metsamor, approximately 30 km from Yerevan, is the only nuclear power plant in the South Caucasus. It provides up to 40% of all electricity generation in the country and remains one of the most important elements of Armenia's energy system.

In parallel, the authorities are considering the construction of a new nuclear power plant within the next 8–10 years. Armenia is studying proposals and experiences from partners in the USA, France, China, Russia, and South Korea. Among the possible options is a project for a new power unit with a capacity of 1200 MW, for which a preliminary feasibility study was prepared by the Russian state corporation Rosatom.