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 directed to work on re-extending the service life and modernizing the second power unit of the plant.

This is a continuation of the large-scale modernization program of the ANPP. In the period from 2020 to 2025, the plant has already received budget funding in the amount of 63.2 billion drams for the first stage of modernization, which allowed extending the service life of the power unit until 2026.

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

The Armenian NPP, located near the city of Metsamor, about 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 experience from partners from 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, the preliminary feasibility study of which was prepared by the Russian state corporation Rosatom.