"INTER RAO EEC" and "RusHydro" finished the purchase-sale deal of Sevan-Hrazdan cascade hydro-power station in Armenia
24.03.2011,
22:04
INTER RAO EEC (IRAO) and “RusHydro" (HYDR) finished the purchase-sale deal of 90% of shares of “International energy corporation” cjsc, the main asset of which is Sevan-Hrazdan cascade hydro-power station (HPS) in Armenia.
YEREVAN, March 24. /ARKA/. INTER RAO EEC (IRAO) and “RusHydro" (HYDR) finished the purchase-sale deal of 90% of shares of “International energy corporation” cjsc, the main asset of which is Sevan-Hrazdan cascade hydro-power station (HPS) in Armenia, Information Policy Department of IRAO informed to PRIME –TASS.
Package of shares was bought by the affiliate of “RusHydro" - “Hydroinvest” from the company Inter RAO Holding B.V. within the group INTER RAO EEC.
Strategy of INTER RAO EEC approved in December 2010 defines the necessity of review of package of foreign assets, optimization of investments and focus on asset management which can create strategic effect for different directions of business group.
The group INTER RAO EEC implemented rehabilitation works on the provision of processing and working force of the stations, passing and cleaning the irrigation water. In November 2010, INTER RAO EEC finished rehabilitation works of water receiver.
Sevan-Hrazdan cascade includes 7 derivation hydro-power stations located on the river Hrazdan in Armenia. 21 hydro-aggregates with the capacity of 561 megawatt are installed on the station. Average annual processing of the station of cascade is 501 million kilowatt/hour which is about 9% of total processing of electricity in the country in 2009. -0-
Package of shares was bought by the affiliate of “RusHydro" - “Hydroinvest” from the company Inter RAO Holding B.V. within the group INTER RAO EEC.
Strategy of INTER RAO EEC approved in December 2010 defines the necessity of review of package of foreign assets, optimization of investments and focus on asset management which can create strategic effect for different directions of business group.
The group INTER RAO EEC implemented rehabilitation works on the provision of processing and working force of the stations, passing and cleaning the irrigation water. In November 2010, INTER RAO EEC finished rehabilitation works of water receiver.
Sevan-Hrazdan cascade includes 7 derivation hydro-power stations located on the river Hrazdan in Armenia. 21 hydro-aggregates with the capacity of 561 megawatt are installed on the station. Average annual processing of the station of cascade is 501 million kilowatt/hour which is about 9% of total processing of electricity in the country in 2009. -0-
