YEREVAN. – The electricity tariff  produced by Vorotan hydro cascade will be increased next year, the Public Services Regulatory Commission decided on Wednesday.

The Contour Global Hydro Cascade (USA) company also received exclusive rights to operate Armenia’s Vorotan Hydro Cascade for 25 years.

The Vorotan Hydro Cascade comprises three hydropower plants, and their total capacity makes up around 12 percent of the energy being generated in Armenia.

An amended agreement for ContourGlobal to purchase the Vorotan Hydro Cascade was signed at the Armenian government on June 8. In November 2013, however, the Public Services Regulatory Commission of Armenia had confirmed the deal to sell the cascade to the American ContourGlobal company, which had expressed a readiness to invest $180 million.