Some $140 million to be invested in modernization of Sevan-Hrazdan HPP cascade by 2033 - EDB review

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31.07.2023, 08:53

The International Energy Corporation (IEC) in Armenia will invest $140 million in the modernization of Sevan-Hrazdan cascade of HPPs in 2024-2033, according to the Eurasian Development Bank's (EDB).

Some $140 million to be invested in modernization of Sevan-Hrazdan HPP cascade by 2033 - EDB review

YEREVAN, July 31. /ARKA/. The International Energy Corporation (IEC) in Armenia will invest $140 million in the modernization of Sevan-Hrazdan cascade of HPPs in 2024-2033, according to the Eurasian Development Bank's (EDB).

Out of the total amount some $76 million will be channeled into the re-equipment of Argel HPP, $36 million into the reconstruction of Arzni HPP, $20 million will be spent on the modernization of Hrazdan HPP and $8 million will be used to re-equip the Sevan HPP.

The International Energy Corporation CJSC manages assets of Sevan-Hrazdan HPP cascade with total installed capacity of 561.4 MW (it consists of 7 HPPs and 17 canals irrigating Ararat valley). The company, registered in May 2003, was acquired by Hrazdan Energy Company (HrazTES), a member of Tashir Group of Companies, in 2020. -0-

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