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LEVON ZURABYAN: VOROTAN CASCADE POWER PLANT WAS PRIVATIZED VIA BREAKING THE LEGISLATION
by Ashot Safaryan
Monday, February 3, 14:50
Vorotan Cascade power plant was privatized via breaking the
legislation, the head of the Armenian National Congress parliamentary
faction, Levon Zurabyan, said at today's session of the parliament.
He also added that the government of Armenia had no right to sell such
an important strategic facility without preliminary coordination with
the parliament. "Against the background of the talks about raising
of the authority of the parliament, such actions of the government
and connivance of the great majority of the parliament cause at least
bewilderment", - Zurabyan said.
To recall, on 29 January the Government of the Republic of Armenia,
Vorotan Cascade of Hydroelectric Power Plants CJSC, and CG Solutions
Global Holding Company LLC have signed an estate sale and purchase
agreement. Under the terms of the agreement, over the next 6 years
ContourGlobal will invest $70 million in a refurbishment program to
modernize the Vorotan hydroelectric plants, according to capital
investments and expenditure plan submitted in advance, which will
be discussed and agreed on with the Public Services Regulatory
Commission. The latter has also confirmed the tariff plan, according
to which the company will ensure the continuous and uninterrupted
operation of Vorotan Cascade of Hydroelectric Power Plants in the
next 25 years.
ContourGlobal is a New York based power-generation company with
approximately 3500 MW in operations in 17 countries and on four
continents. ContourGlobal's 1650 employees manage, own and operate
a portfolio of 33 power plants utilizing a wide range of fuel types
and technologies including renewable energy production based upon
Hydro, wind, solar and biomass, as well as an extensive fleet of
conventionally powered thermal power plants. In the wider Eastern
Europe area, ContourGlobal currently owns and operates approximately
1100 MW of power generation businesses in Bulgaria, Ukraine, Romania,
and Poland. Vorotan Cascade Of Hydroelectric Power Plants will become
one of Europe's largest deals, totaling $180 million.
http://www.arminfo.am/index.cfm?objectid=63A63940-8CC9-11E3-84B60EB7C0D21663
by Ashot Safaryan
Monday, February 3, 14:50
Vorotan Cascade power plant was privatized via breaking the
legislation, the head of the Armenian National Congress parliamentary
faction, Levon Zurabyan, said at today's session of the parliament.
He also added that the government of Armenia had no right to sell such
an important strategic facility without preliminary coordination with
the parliament. "Against the background of the talks about raising
of the authority of the parliament, such actions of the government
and connivance of the great majority of the parliament cause at least
bewilderment", - Zurabyan said.
To recall, on 29 January the Government of the Republic of Armenia,
Vorotan Cascade of Hydroelectric Power Plants CJSC, and CG Solutions
Global Holding Company LLC have signed an estate sale and purchase
agreement. Under the terms of the agreement, over the next 6 years
ContourGlobal will invest $70 million in a refurbishment program to
modernize the Vorotan hydroelectric plants, according to capital
investments and expenditure plan submitted in advance, which will
be discussed and agreed on with the Public Services Regulatory
Commission. The latter has also confirmed the tariff plan, according
to which the company will ensure the continuous and uninterrupted
operation of Vorotan Cascade of Hydroelectric Power Plants in the
next 25 years.
ContourGlobal is a New York based power-generation company with
approximately 3500 MW in operations in 17 countries and on four
continents. ContourGlobal's 1650 employees manage, own and operate
a portfolio of 33 power plants utilizing a wide range of fuel types
and technologies including renewable energy production based upon
Hydro, wind, solar and biomass, as well as an extensive fleet of
conventionally powered thermal power plants. In the wider Eastern
Europe area, ContourGlobal currently owns and operates approximately
1100 MW of power generation businesses in Bulgaria, Ukraine, Romania,
and Poland. Vorotan Cascade Of Hydroelectric Power Plants will become
one of Europe's largest deals, totaling $180 million.
http://www.arminfo.am/index.cfm?objectid=63A63940-8CC9-11E3-84B60EB7C0D21663