YEREVAN. – In response to Zhamanak daily’s remarks that Armenia’s opposition considers the Vorotan Hydro Cascade’s sale to be unlawful and non-transparent, US Ambassador John Heffern once again confirmed that the US defends and supports the business deal, the daily reported. 

‘“The deal was signed in January, and we hope that it will be completed. This deal will benefit the diversification of Armenia’s power supply, and it is important in economic and investment terms.

‘“The International Finance Corporation and the Foreign Investment Promotion Commission also are involved in the funding,’ the ambassador said yet again expressing the hope that the deal will be implemented in accordance with what is signed, and that it will be a good incentive for the two countries,” Zhamanak wrote.          

The Vorotan Hydro Cascade comprises three electric power plants. The Government of Armenia is the 100-percent shareholder of the Vorotan Hydroelectric Power Plant. On November 27, 2013, the Public Services Regulatory Commission of Armenia had confirmed the deal to sell the Vorotan Hydro Cascade to the American ContourGlobal company, and for $180 million.