On September 5, Hakob Vardanyan, the Deputy Minister of Territorial Administration and Infrastructure of Armenia, stated that the government commission in Armenia is intensively studying three options for building a new nuclear power plant in the republic - Russian, American and South Korean.

"The decision on the new nuclear power unit has not yet been made. It is a very difficult and responsible decision, which should be maximally thought out. Currently, three options are being intensively studied and compared. Many factors should be taken into account, starting with capacity, flexibility, production cycles, operating costs, fuel supply issues and others," the source said.

According to him, the Russian side has already handed over a preliminary feasibility study of the 1200 MW power unit variant to Armenia, and the feasibility studies of the American and South Korean partners are also being studied. As for the French variant, the situation is only at the level of talks, he explained. "After the study of the three options is completed, we must develop a specific feasibility study for our energy system and assess the impact in terms of tariffs. We must not make a hasty decision because the new NPP will be a key driver of our economy," the deputy minister emphasized. According to Vardanyan, the problem with the project proposed by Russia is the 1200 MW capacity - too big for Armenia's small energy system. "If we stop at the 1200 MW option, electricity will be very expensive, it will have a bad impact on the economy," Vardanyan pointed out. "At the same time, it is positive that the Russian power unit of this type has been tested and installed at many plants in different countries. When asked whether it would be possible to order a smaller capacity unit from Russia, for example, 600 MW, the deputy head of the ministry said that such a project would probably cost no less than the construction of a 1200 MW reactor," he said.

"Now our NPP has a capacity of 400 MW, with two turbine generators operating, which provides sufficient flexibility, and even 600 MW is too large to ensure 100% flexibility of the energy system. So it is a moot point: Will we be able to integrate a 600 MW unit into our energy system, and will we be able to ensure 100% flexibility?" the deputy minister questioned.

He further outlined some of the options proposed by the U.S. side. In particular, 77 MW modular units - six units totaling 462 MW - or 300 MW versions of light water-fired units or boiling water reactors. "Among the options under consideration are units that have not yet been licensed. However, according to Vardanyan, this does not indicate the riskiness of the unit, especially since the U.S. licensing authority is the most stringent in the world. The issue here is timing, and it is necessary to decide whether we are ready to wait for some time if we want an American block," he added. The deputy minister noted, "It should be taken into account that almost always the deadlines for the construction of peaceful nuclear power facilities, which are previously agreed upon with the producers, are shifted, and this is a common world practice."

"As for South Korea's proposal, the country currently has two variants of the units available - in 1000 MW and 1400 MW, as well as the development of small modular variants, which are at the licensing stage. This process will last up to two years," Vardanyan stated.

"Various options are possible: either the state will be the owner, then a loan will be issued under state guarantees, or the state will determine the tariff and provide guarantees for the purchase of generated electricity. I think the tariff option is more reliable because world practice shows that in all cases, the final cost of a nuclear power plant exceeds the initial cost by about 20% over ten years of construction. The reasons for this are inflation, geopolitical situation, and other factors," the Armenian Deputy Minister concluded.