Lender’s supervision on behalf of the European Investment Bank for the Yerevan Energy Efficiency project

The Yerevan Energy Efficiency Program, financed by the European Investment Bank (EIB) with support from the European Union, represents a major step in modernizing Yerevan’s public infrastructure through energy-efficient and climate-resilient renovations. The program, implemented by the Yerevan Municipality, focuses primarily on kindergartens and healthcare institutions, aiming to reduce energy consumption, enhance seismic safety, and improve comfort and accessibility for residents.

Phase I of the program, launched in 2017, had a total budget of about €15 million, including a €7 million EIB loan, €5 million grant from the Eastern Europe Energy Efficiency and Environment Partnership (E5P), €1 million from the Green Climate Fund (via UNDP), and €2 million from the municipality. It targeted the renovation of around 50 public kindergartens, introducing thermal insulation, modern heating and lighting systems, and renewable energy technologies such as solar water heaters. The upgrades also improved seismic stability, sanitary conditions, and accessibility. As a result, public buildings became safer, more comfortable, and more energy-efficient—reducing operating costs and carbon emissions while extending their service life.

Building on the success of the first stage, Phase II was launched in 2023 with a significantly larger investment of about €38 million, including a €25 million EIB loan, €10 million EU grant, and municipal co-financing. This phase focuses on the renovation of 38 public buildings, comprising 32 kindergartens and 6 polyclinics, covering over 100,000 square meters of floor area. It introduces deep energy renovation measures such as advanced insulation, window replacement, installation of energy-efficient boilers, LED lighting, and solar hot water systems, alongside structural improvements to ensure seismic safety and universal accessibility. The second phase aims to reduce energy consumption by up to 65%, lower CO₂ emissions, and extend the buildings’ operational lifetime by at least 20 years.

Together, these two phases of the Yerevan Energy Efficiency Program demonstrate a comprehensive approach to urban sustainability—combining energy savings, climate resilience, and improved public service quality. The program serves as a model for municipal energy efficiency initiatives in the region, showcasing how international finance and local commitment can jointly create tangible social, environmental, and economic benefits.

Services rendered

Providing technical assistance (TA) to the Projects Implementation Unit (PIU) of Yerevan Municipality in planning, procuring and implementation of energy efficiency and renewable energy interventions within Phase 1 and 2 of Yerevan Energy Efficiency program.

The assignment involves modelling energy savings and performance analysis of Energy Efficiency and Renewable Energy Measures, along with on-site quality inspections of construction works.