Russia's Kommersant reports about Tashir Group's intention to acquire Sevan-Hrazdan Cascade Hydro Power Plant in Armenia
28.11.2019,
12:43
RusHydro, a Russian hydroelectricity company, has agreed on selling 90% of the International Energy Company, which is the owner of the Sevan-Hrazadan Cascade Hydro Power Plant in Armenia, to Samvel Karapetyan's Tashir Group, Kommersant reported on Thursday referring to its source.
YEREVAN, November 28. /ARKA/. RusHydro, a Russian hydroelectricity company, has agreed on selling 90% of the International Energy Company, which is the owner of the Sevan-Hrazadan Cascade Hydro Power Plant in Armenia, to Samvel Karapetyan's Tashir Group, Kommersant reported on Thursday referring to its source.
According to the newspaper, the purchaser will be Hrazadan Energy Company, which is the owner of Armenia's 1.11 GWt Thermal Power Plant. Repayment of loans is among the purchaser's contractual obligations.
Experts say both sides will take advantage of the deal - RusHydro will get rid of debts, and Tashir will expand its presence in the energy sector.
E&Y has estimated the cascade at 140 million Russian rubles, but it will be sold at the balance price of 172.97 million Russian rubles. The purchaser also assumes its all liabilities. RusHydro representatives refused to make any comment.
After sealing this deal, only one asset unit of the Armenian energy sector will remain at Russian companies after the conclusion of this deal - this is the fifth unit of the Hrazdan Thermal Power Plant, which, along with gas supplying facilities, is owned by Russia's Gazprom Armenia.
In addition, Russia's Rosatom is engaged in the modernization of the Armenian Nuclear Power Plant, which is being carried out mostly thanks to the loan taken from Russia.
The Sevan-Hrazdan Cascade (561 MWt), consists of seven derivative hydro power plants. Their output shrank 11.5% in 2018 to 412 million kWh. This is about 5.68 percent of Armenia's electric energy output in 2018.
The cascade's Fleet Average Unit Capability Factor is very low - about 10% because of shallowness of the rivers. -0---
According to the newspaper, the purchaser will be Hrazadan Energy Company, which is the owner of Armenia's 1.11 GWt Thermal Power Plant. Repayment of loans is among the purchaser's contractual obligations.
Experts say both sides will take advantage of the deal - RusHydro will get rid of debts, and Tashir will expand its presence in the energy sector.
E&Y has estimated the cascade at 140 million Russian rubles, but it will be sold at the balance price of 172.97 million Russian rubles. The purchaser also assumes its all liabilities. RusHydro representatives refused to make any comment.
After sealing this deal, only one asset unit of the Armenian energy sector will remain at Russian companies after the conclusion of this deal - this is the fifth unit of the Hrazdan Thermal Power Plant, which, along with gas supplying facilities, is owned by Russia's Gazprom Armenia.
In addition, Russia's Rosatom is engaged in the modernization of the Armenian Nuclear Power Plant, which is being carried out mostly thanks to the loan taken from Russia.
The Sevan-Hrazdan Cascade (561 MWt), consists of seven derivative hydro power plants. Their output shrank 11.5% in 2018 to 412 million kWh. This is about 5.68 percent of Armenia's electric energy output in 2018.
The cascade's Fleet Average Unit Capability Factor is very low - about 10% because of shallowness of the rivers. -0---
