Armenia intends to finalize the project for a new nuclear power plant within the next year. The decision on who to build the NPP with and what kind of NPP it will be should be made no later than 2027. Proposals from various countries, including a Russian option, are being considered. The existing Armenian NPP is designed to operate until 2036, although the possibility of further extending its operation is being discussed.
Concurrently, the country is accelerating the development of renewable energy and storage systems. The capacity of solar power plants has already grown from 16 MW in 2018 to 1213 MW. By 2031, the government plans to create at least 800 MW of storage capacity, which will allow for storing surplus daytime solar generation and using it during nighttime hours. The government program also envisages increasing the capacity of photovoltaic stations to 1000 MW.
The growth in energy consumption is partly due to large-scale investment projects and the development of AI infrastructure. Pashinyan previously stated that Armenia has already faced an electricity deficit, and the needs of future projects may require significantly more generation. In particular, the prime minister did not rule out the construction of an NPP with a capacity of up to 1000 MW. The goal of the energy program is not only to meet domestic demand but also to create opportunities for electricity export.