YEREVAN. – The Contour Global Hydro Cascade (USA) company has received exclusive rights to operate Armenia’s Vorotan Hydro Cascade for 25 years.
The respective decision was made at Wednesday’s meeting of the Public Services Regulatory Commission of Armenia.
Accordingly, the aforementioned American company has been given exclusive rights to operate the three hydropower plants of the Vorotan Hydro Cascade.
ContourGlobal company, on the other hand, will assume the repayment of the €51 million-loan, which the German government-owned KfW Development Bank had provided.
The Vorotan Hydro Cascade comprises three hydropower plants, and their total capacity makes up around 12 percent of the energy being generated in Armenia.
