RusHydro agrees sale of hydropower assets in Armenia

摘要

RusHydro has agreed to sell its majority stake in the operator of the Sevan-Hrazdan cascade of hydro plants in Armenia, as part of an ongoing divestment of its non-core assets. Russia's state-controlled hydropower producer announced on 5 December that JSC Hydroinvest, a wholly owned subsidiary of RusHydro, had entered into a share sale agreement with PJSC Hrazdan Energy Company (HrazTES), a unit of the local Tashir Group, for the sale of its 90 per cent stake in JSC MEK, which is the operator of the Sevan-Hrazdan cascade and one of the largest power producers in Armenia. The Sevan-Hrazdan Cascade comprises seven power- plants, which are located along the river Hrazdan and its tributaries between the Lake Sevan and the capital Yerevan, with a combined installed capacity of 561.4 MW or 14 per cent of the country's total installed capacity. The cascade of plants produces on average between 8 and 10 per cent of Armenia's electricity.