The New Gas-Fuelled Power Plant Built by Renco and Siemens in 28 Months of Work Inaugurated in Yerevan
January 12, 2022 at 04:42 am IST
Share
At the presence of the Prime Minister of the Republic of Armenia Nikol Pashinyan, the new gas-fuelled power plant built by Renco and Siemens in 28 months of work was inaugurated in Yerevan. These days the new power plant, which has been in operation since the beginning of October, will come on stream at full capacity, supplying 20% of the country's electricity. For almost three years, a peak of 1,500 people, both directly and indirectly connected to the Company, have been working on the site. Started up at the
beginning of October, the power plant was developed by Renco in cooperation with the government of the Armenian Republic. The investment for the plant was $258 million with the participation of multiple investors, including the World Bank.
Siemens AG is one of the world's leading manufacturers of electronic and electro-technical equipments. Net sales (including intragroup) break down by family of products as follows:
- digital industrial equipment (28.2%): automated production, assembly, logistics and monitoring systems, etc.;
- medical equipment (27.8%): medical imaging systems, laboratory diagnostics and hearing aid systems, etc.;
- smart building and infrastructure solutions (25.6%): energy transition solutions, HVAC products (heating, ventilation and air conditioning systems), building security systems (fire detection and protection systems, access control, video surveillance and intrusion detection systems, etc.), building management systems, etc.;
- mobility solutions and systems (13.5%): rail vehicles, rail automation systems, rail electrification systems, digital and cloud-based solutions, etc.
The remaining net sales (4.9%) are primarily from financial activities (leasing, equipment and project financing, financial consulting services, etc.).
Net sales are distributed geographically as follows: Germany (16.3%), Europe/CIS/Africa/Middle East (30.8%), the United States (23.9%), America (5.2%), Asia and Australia (23.8%).