We have chosen emerging markets with strong wind potential
and excellent regulatory frame work
Armaec’s corporate strategy is to develop wind farms in emerging markets with huge wind resources and supportive regulatory framework that creates a very conducive environment for investment in wind energy. Driven by a growing economy that has a high demand for energy, the countries it is focussing on has the requirement for renewable energy and is supported by feed-in tariff regimes.
Armenia
The Republic of Armenia, is a landlocked mountainous country in Eurasia between the Black Sea and the Caspian Sea in the Southern Caucasus. It borders Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran and the Nakhchivan exclave of Azerbaijan to the south. A transcontinental country at the juncture of Eastern Europe and Western Asia, Armenia has had and continues to have extensive socio-political and cultural connections with Europe.
India
India has one of the most favourable policies towards renewable energy in the emerging markets. The Indian government is offering 80% Accelerated Depreciation on specified Non-conventional Renewable Energy devices/systems such as wind power equipment, in the first year of installation of the projects and tax holidays. The total potential for wind energy production in India is estimated to be circa 70,000 MW.
Armaec is currently undertaking country specific due diligence and will be launched in India at The Renewable Energy Conference August 2008.
South Africa
Armaec is in dialogue with the Industrial Development Corporation of South Africa and a few industrial houses that have interest in promoting renewable energy production. Negotiations to secure a supportive feed-in tariff structure will be initiated with Eskom, South Africa’s state owned power producer and distributor in the near future. South Africa is slowly moving towards a conducive environment for wind energy production.