Armenian government is working on a draft resolution on nationalization of ENA and transfer of company to state control – Romanos Petrosyan
09.06.2026,
22:18
Since May 25, the government and relevant agencies have been working on a draft resolution to begin the process of recognizing 100% of the shares of Electric Networks of Armenia (ENA) as a priority public interest, stated ENA Acting Governor Romanos Petrosyan.
YEREVAN, June 9. /ARKA/. Since May 25, the government and relevant agencies have been working on a draft resolution to begin the process of recognizing 100% of the shares of Electric Networks of Armenia (ENA) as a priority public interest, stated ENA Acting Governor Romanos Petrosyan.
Earlier, several media outlets reported a possible valuation of the ENA acquisition by the state at approximately $380,000. This amount is significantly lower than the investment made by Tashir Group in the energy company since 2016 – approximately $900 million.
"The end of this story will definitely be the complete nationalization of ENA and its transfer to state control. We are now, so to speak, at the final stage of the process of transferring it to state control," Petrosyan stated on Factor TV. He recalled that the deadline set by the Administrative Court expired on May 25, imposing an interim measure requiring the owners to respond to the government's proposal, negotiations, a deal, and the sale of 100% of the shares at the government's proposed price.
Earlier, the Administrative Court of Armenia suspended the government's efforts to initiate the process of transferring Electric Networks of Armenia CJSC to state ownership until May 25.
The interim administrator noted that the transaction did not take place and that no initiative on the part of the owners was observed, adding that there is some correspondence "which is unknown to the public."
"Within weeks, the government will make this crucial decision recognizing the overriding public interest, which will then determine further steps aimed at the final transfer (of ENA) to state ownership," Petrosyan said.
On April 9, 2026, Armenian Prime Minister Nikol Pashinyan declared that Electric Networks of Armenia had already been de facto nationalized, and that this status would subsequently be formalized legally. According to Pashinyan, the decision to transfer ENA under state control was made, in particular, taking into account the interests of consumers and the accumulated problems in the company's management.
Earlier, several media outlets reported a possible valuation of the ENA acquisition by the state at approximately $380,000. This amount is significantly lower than the investment made by Tashir Group in the energy company since 2016 – approximately $900 million.
"The end of this story will definitely be the complete nationalization of ENA and its transfer to state control. We are now, so to speak, at the final stage of the process of transferring it to state control," Petrosyan stated on Factor TV. He recalled that the deadline set by the Administrative Court expired on May 25, imposing an interim measure requiring the owners to respond to the government's proposal, negotiations, a deal, and the sale of 100% of the shares at the government's proposed price.
Earlier, the Administrative Court of Armenia suspended the government's efforts to initiate the process of transferring Electric Networks of Armenia CJSC to state ownership until May 25.
The interim administrator noted that the transaction did not take place and that no initiative on the part of the owners was observed, adding that there is some correspondence "which is unknown to the public."
"Within weeks, the government will make this crucial decision recognizing the overriding public interest, which will then determine further steps aimed at the final transfer (of ENA) to state ownership," Petrosyan said.
On April 9, 2026, Armenian Prime Minister Nikol Pashinyan declared that Electric Networks of Armenia had already been de facto nationalized, and that this status would subsequently be formalized legally. According to Pashinyan, the decision to transfer ENA under state control was made, in particular, taking into account the interests of consumers and the accumulated problems in the company's management.
