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Siemens to provide the power island, service, and financing for power plant in Armenia

An SGT5-2000E gas turbine, together with a steam turbine and two generators from Siemens, will produce electricity particularly economically in the Yerevan 2 power plant in the Armenian capital.

The Italian engineering, procurement, and construction (EPC) firm Renco S.p.A. is responsible for building the entire plant, and together with the Italian equity company Simest S.p.A., it holds a 60 percent share in ArmPower. "Key in making this project a reality is the perfect fit for Renco's and Siemens' capabilities. Both companies complement each other perfectly," said Giovanni Rubini, CEO of Renco. "Renco is well-established in Armenia and is active in the real estate business and the civil and private construction business and will act as an investor and EPC contractor – whereas Siemens is contributing as the technology provider under the EPC contract and as the service provider to the project company ArmPower."
The new combined cycle power plant will have an electrical capacity of 250 megawatts and is expected to go into operation by mid-2021. Siemens' scope of supply includes the power island, which consists of an SGT5-2000E gas turbine, an SST-600 steam turbine, two SGen-100A generators, and the heat recovery steam generator. It also covers the SPPA-T3000 control system. In addition to the entire operation of the power plant and maintenance for a period of 20 years, the operating and maintenance agreement also includes power diagnostic services, support from the Remote Expert Center, and remote operation support.
"Yerevan 2 will be the first project-financed fossil power plant project in Armenia to produce environmentally friendly electricity at ultra-low cost," said Olaf Kreyenberg, head of Power Generation Europe and CIS at Siemens Gas and Power. "Lower energy costs will help spur growth in Armenia. Under the 20-year service agreement, Siemens will ensure that the plant continues to produce electricity economically and reliably over the long term."
"The financial participation of SFS in the project company ArmPower was crucial to realizing this project and to ensuring a successful financial close. The fact that Siemens can provide the technology, service, and financial expertise as a co-investor in the project is a win-win for greenfield power in Armenia," said Steffen Grosse, CEO of Equity Finance at SFS.

For further information on Siemens Gas and Power, please see 

For further information on power plant solutions from Siemens, please see 

For further information on the SGT5-2000E gas turbine, please see

For this press release

Siemens Gas and Power (GP) is a global pacesetter in energy, helping customers to meet the evolving demands of today's industries and societies. GP comprises broad competencies across the entire energy value chain and offers a uniquely comprehensive portfolio for utilities, independent power producers, transmission system operators and the oil and gas industry. Products, solutions and services address the extraction, processing and the transport of oil and gas as well as power generation in central and distributed thermal power plants and power transmission in grids. With global headquarters in Houston in the U.S. and more than 64,000 employees in over 80 countries, Siemens Gas and Power has a presence across the globe and is a leading innovator for the energy systems of today and tomorrow, as it has been for more than 150 years.
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Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at .
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Susanne Weissmann

Siemens AG

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