Russian energy holdings lose interest in Armenian hydropower plantsApril 24, 2017 - 16:47 AMT PanARMENIAN.Net - Russian energy holdings, actively investing in Transcaucasia in the 2000’s are losing interest in local assets, the regulators being unready to make allowances over the national currency devaluation in the energy tariffs. RusHydro , one of Russia's largest power generating companies, will consider the possibility of selling the Sevan-Hrazdan cascade of hydroelectric power stations in Armenia, RusHydro deputy CEO George Rizhinashvili told journalists, ARKA said, citing finanz.ru. He stated that in 2-3 months RusHydro will assess the value of the asset and form a portfolio of proposals from potential buyers. "We have the Sevan-Hrazdan cascade, which we plan to sell in the near future because of its being a non-core asset," Rizhinashvili said. "We have not yet made an internal assessment; now we are analyzing the financial model, however, the decision to sell it is fairly stable," he said. The Sevan-Hrazdan cascade includes seven hydropower stations located on the Hrazdan River in Armenia with a total installed capacity of 561 MW. The average annual output of the cascade stations is 501 million kWh, which is about 10% of the total power generation in the country. RusHydro acquired this asset in March 2011 from Inter RAO Holding B.V. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |