ArmPower

Siemens will supply a complete power island for the new Yerevan 2 combined cycle power plant in Armenia, and will operate and maintain the plant for 20 years. Siemens Financial Services holds a 40% stake in the project company ArmPower.

Siemens will supply a complete power island for the new Yerevan 2 combined cycle power plant in Armenia, and will operate and maintain the plant for 20 years. Siemens Financial Services holds a 40% stake in the project company ArmPower.

The ArmPower consortium, including Siemens and Renco, secured over $200 million in funding from the World Bank Group and other lenders to build a 250 MW combined-cycle gas turbine power plant in Yerevan, Armenia. The project was renegotiated after a freeze by the new government.