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Interfax, Russia
July 26, 2013 Friday 3:32 PM MSK
Vorotan river HPP cascade in Armenia generates 11% less power in H1
YEREVAN. July 26
CJSC Vorotan HPP (hydroelectric power plant) Cascade, the biggest in
Armenia, generated 445.273 million kWh of electric power in the first
half of 2013, 11% less year-on-year, the company told Interfax.
A company representative said the cascade was operating as usual, with
no interruptions, and the decrease in electricity output was due to a
lack of rain causing the Vorotan river's water level to drop.
The country's energy system as a whole generated 441.917 million kWh
of power versus 497.151 million kWh in January-June of last year.
The U.S. company ContourGlobal is negotiating with the Armenian
government over the acquisition of all the state-run cascade's assets.
The terms of the deal are being coordinated.
ContourGlobal intends to buy the cascade using its own money, as well
as funds provided by the United States' Overseas Private Investment
Corporation and International Finance Corporation. The deal price tag
has not been revealed, but is said to be substantial. The company is
also prepared to invest in the modernization of primary generating
facilities.
The Vorotan cascade has been on the list of enterprises slated for
privatization for roughly ten years. Its sale has become more urgent
now, since the state is in immediate need of funds to compensate for
rising prices on energy resources.
The cascade's operating lifespan is around forty years, and has almost
expired. Armenia Energy and Natural Resources Minister Armen Movsisian
has said the government is not preparing to invest in the cascade's
overhaul and is ready to sell it if a good buyer is found.
The cascade's installed generating capacity is 400 mWt. It covers
Armenia's peak energy-system capacities and regulates frequency in the
crossflow of electricity from Iran to Armenia and from Armenia to
Iran.
Cf ak
From: A. Papazian
July 26, 2013 Friday 3:32 PM MSK
Vorotan river HPP cascade in Armenia generates 11% less power in H1
YEREVAN. July 26
CJSC Vorotan HPP (hydroelectric power plant) Cascade, the biggest in
Armenia, generated 445.273 million kWh of electric power in the first
half of 2013, 11% less year-on-year, the company told Interfax.
A company representative said the cascade was operating as usual, with
no interruptions, and the decrease in electricity output was due to a
lack of rain causing the Vorotan river's water level to drop.
The country's energy system as a whole generated 441.917 million kWh
of power versus 497.151 million kWh in January-June of last year.
The U.S. company ContourGlobal is negotiating with the Armenian
government over the acquisition of all the state-run cascade's assets.
The terms of the deal are being coordinated.
ContourGlobal intends to buy the cascade using its own money, as well
as funds provided by the United States' Overseas Private Investment
Corporation and International Finance Corporation. The deal price tag
has not been revealed, but is said to be substantial. The company is
also prepared to invest in the modernization of primary generating
facilities.
The Vorotan cascade has been on the list of enterprises slated for
privatization for roughly ten years. Its sale has become more urgent
now, since the state is in immediate need of funds to compensate for
rising prices on energy resources.
The cascade's operating lifespan is around forty years, and has almost
expired. Armenia Energy and Natural Resources Minister Armen Movsisian
has said the government is not preparing to invest in the cascade's
overhaul and is ready to sell it if a good buyer is found.
The cascade's installed generating capacity is 400 mWt. It covers
Armenia's peak energy-system capacities and regulates frequency in the
crossflow of electricity from Iran to Armenia and from Armenia to
Iran.
Cf ak
From: A. Papazian