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About Us

I welcome your interest to visit Armenia Renewable Resources and Energy Efficiency Fund’s website. Our website will give you an opportunity to learn about the activities, projects and structure of R2E2 and also will help you find the necessary information of renewable energy and energy efficiency fields, its legislation and regulations. The new website is designed to deliver more and constantly updated information. We hope you will find all the necessary and useful information you need. We also expect your remarks and suggestions.

R2E2 Fund’s director Tamara Babayan email: mobile: (+374 93) 930-030 work tel.: (+374 10) 588-011


The Fund started its operation in 2006. It has been established by Government of Armenia as an independent NGO following the provisions of “Law on Energy Efficiency and Renewable Energy” of Armenia. The mission of the Fund is to facilitate investments in energy efficiency and renewable energy in Armenia. Within a short period of time the Fund gained a reputation of a reliable advocate for sustainable energy development in Armenia.

Under the umbrella of one organization the Fund provides an array of comprehensive assistance to renewable energy and energy efficiency project developers, investors, banks, condominiums, researchers, etc. It is professional expertise for government in issues related to the green energy development strategy and legislation. The Fund continuously analyses situation identifying barriers and proposing solutions to the government responsible agencies.

The Fund also established financing mechanism through a revolving lending tool, which finances energy efficiency and renewable energy projects through the banks or credit organizations.

The proposed investments, as a rule, are small in scale with limited and well known impacts on the environment, which normally can be mitigated or eliminated by adhering to good construction practice. Nevertheless the Environmental Management Plan for each project was developed, which describe the potential threats and the ways of avoiding and/or mitigating them.

The Fund has developed working relationship and partnership with major state, private and international organizations and companies in Armenia including the Government of Armenia (Minister of Energy and Natural Resources is the Head of Board of Trustees), Public Services Regulatory Commission, the Central Bank, the World Bank, EBRD, EU, USAID, UNDP, UNIDO, KfW and their projects’ teams, as well as number of local and international companies, private banks, gas and electricity supply companies,  High Voltage Network, Gas supply company, Association of Small Hydro PP (SHPP) owners, more than 40 SHPPs, ESCO Association, Enterprise Incubator Foundation, Armenian Development Agency, Alliance to Save Energy, Enertech inc, BBI international, etc. Throughout the implementation of its activities the Fund was in close cooperation with National Academy of Science, American University of Armenia, National Renewable Energy Laboratory (USA), as well as other research institutions.
Currently the Fund is agent of the Government for implementation of the World Bank projects in the sector.

Our team is composed of professionals with extraordinarily broad capabilities and significant experience supported by the diverse practices. Depending on the specifics of a project the Fund employs highly qualified experts or organizations from Armenia or abroad.
Successful implementation of its activities brings new knowledge and skills to the Fund. Recently the Fund has prepared new Energy Efficiency project design for implementing in municipal and public building (schools, hospitals, etc).

Our structure

Tamara Babayan Director
Siranush Gorgyan Financial manager
Zaruhi Gharagiozyan Leading procurment specialist
Marine Petrosyan Procurment specialist
Susanna Serodyan Financial, loan specialist
Maiam Burnachyan Financier, accountant
Anna Melik-Israyelyan


Аssistant to director / board of trustes secretary
Anna Manvelyan Human resourse specialist
Hegine Margaryan Translater
Armen Lisikyan Project coordinator
Hrant Ter-Gabrielyan Expert of  renewable energy and energy efficiency
Alexsandr Torchyan Expert of  renewable energy and energy efficiency
Norayr Harutunyan Monitoring consultant of energy efficiency project
Aristakes Asmangulyan Construction engineer
Gagik Khachatryan Engineer
Sergey Abrahamyan Coordinator
Armen Gharibyan

Energy efficiency expert
Yeremia Yengibaryan Solar potential assessment and solar PV expert
Hmayak Avagyan Environmental expert
Simon Petikyan Office manager
Ruben Vareljyan It master
Lusine Gabrielyan PR specialist

Gayane (Yana) Bakhchisaraytseva

Responsible for Web Site