As a result of the 32-month work of more than 20 talented specialists at «Synergy», a revolutionary market management system was created for the liberalization and digitalization of the wholesale electricity market in Armenia. This is a new, modern online platform, which gives market participants a great opportunity concerning the wholesale market of electricity and allows them to control all the processes taking place in the market.

The system made it possible to completely digitize the electricity market, and organize online purchases in individual segments of the wholesale market, which will also allow determining the price of electricity in a competitive environment.

The system was developed for CJSC «Settlement Center» (100% of the shares belong to the Government of the Republic of Armenia) and officially launched on February 1, 2022. It was developed with the support of the USAID Program for Market Liberalization and Electricity Trade (MLET).

In parallel, the renewable energy sector is developing in Armenia. The Government of the Republic of Armenia guarantees the purchase of all electricity produced from renewable sources within the next 20 years. Armenia has a large potential for solar energy (the average annual solar energy flow to the horizontal surface of 1 m2 is 1,720 kWh/m2, and a quarter of the Republic’s territory has annual solar energy reserves of 1,850 kWh/m2). Several large solar power plants with a total capacity of 400 MW are currently under construction.