American owner of Vorotan HPP cascade plans to invest AMD 6.78 bln in 3 years

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19.12.2023, 14:44

Armenia's Public Services Regulatory Commission (PSRC) will consider on December 20 the three-year investment program of the Vorotan HPP cascade, owned by an American company Contour Global.

American owner of Vorotan HPP cascade plans to invest AMD 6.78 bln in 3 years

YEREVAN, December 19. /ARKA/. Armenia's Public Services Regulatory Commission (PSRC) will consider on December 20 the three-year investment program of the Vorotan HPP cascade, owned by an American company Contour Global.

According to the regulator's website, the total cost of the investment program, designed for 2023-2025 is AMD 6.78 billion.

The key directions of the program are data collection and strengthening of dams and hydraulic structures estimated at about 1.5 billion drams. The company plans also to invest over 1 billion drams in the reconstruction of Tatev HPP.

It has also earmarked 459 million drams for environmental protection measures, improvement of labor protection and technical safety, 1.6 billion drams for replacement of power transformers at Shamb HPP, 870 million drams for automation and remote control of reservoir mechanisms and over 1.31 billion drams for other operations.

In 2016, the American company Contour Global Hydro Cascade announced the completion of the acquisition of Vorotan Hydro Cascade HPP CJSC from the Armenian government for $180 million.

Vorotan HPP Cascade consists of three power plants - Shamb, Tatev and Spandaryan - located on the Vorotan River in southern Armenia. The cascade accounts for about 15% of Armenia's power generation. ($1 – 405.95 drams). --0--

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