YEREVAN. – News is circulating in Armenia’s Syunik Region that the country’s government is discussing the matter of transferring the Vorotan hydro power plant (HPP) system to Russia. “So as not to increase at the border the price of Russian gas being imported to Armenia, there is a good chance that Russia would acquire the system, either as asset management, or as property right,” Yerkir daily writes.       

“The Government of Armenia, together with the German KfW Bank, is already carrying out a 51-million-Euro project, whereby the Vorotan Cascade’s Spandaryan, Shamb, and Tatev HPPs will be modernized and reequipped within the next 5 years.   

The Vorotan HPP system is of major importance not just because it produces 20 percent of the electricity produced in Armenia, but also since the cost price of 1 kW/hour electricity produced by this system is the lowest in Armenia.     

In response to the verbal inquiry as to whether the aforesaid situation is true, press secretary Lusine Harutyunyan of the Armenian Ministry of Energy and Natural Resources conveyed Minister Armen Movsisyan’s words: ‘There is no such process,’” Yerkir daily writes.