YEREVAN, October 19. / ARKA /. The Piazza Grande business center in Yerevan located at 10, Vazgen Sargsyan street will host a news  conference on October 20 in connection with the signing of a € 1.9 million co-financing grant provided by the Eastern Europe Energy Efficiency and Environment Partnership to Yerevan Municipality to modernize the city’s street lighting system.

The press conference will be conducted by the head of EBRD Yerevan Office, Mark Davis, E5P Fund manager Anders Lund and head of the European Union Delegation to Armenia’s cooperation section Hoa-Binh Adjemian.

The rest of the $6 million worth project will be provided by the European Bank for Reconstruction and Development (EBRD). Yerevan has a population of 1.1 million. Its street lighting network consists of old, inefficient and environmentally polluting mercury-based lights.

The heavy-metal based content of the current lighting system contributes to energy waste and is a considerable environmental hazard. Due to the antiquated condition of the current system and the high percentage of lights that are not working, large parts of the city are not sufficiently illuminated.

To overcome this problem the pilot project will introduce new energy-efficient LED lighting, a control and monitoring system, pole replacement and renovation as well as power cable replacement.

This will result in better service quality and improved environmental standards due to reduced energy consumption and the minimization of operating and maintenance costs. Lighter streets will also be safer for pedestrians and motorists alike. -0-