EcoLur
A number of Armenian NGOs and Armenian members of Asian Development Bank (ADB) forum have applied to ADB administration to stop the funding of Sevan-Hrazdan SHPP Cascade. Their letter says, “We - a number of NGOs from Public Environmental Alliance of Armenia and a number of ADB NGO forum members express our concerns with the project on additional water outlets of 70 million cubic meters from Lake Sevan for duration of five years, which threatens to disturb the environmental balance of Lake Sevan, freshwater reserve of strategic significance, leading to a disaster.
Currently, in parallel with the loaning project of the modernization of Sevan-Hrazdan SHPP Cascade, a quick and non-justified decision is made for additional water outlets of 70 million cubic meters from Lake Sevan for duration of 5 years without in-depth studies with the substantiation that the additional water outlets from Lake Sevan are needed to recover artesian water in Ararat Valley and to irrigate arid land areas. The duration of this investment project is five years, which exactly corresponds to the duration of the additional water outlets from Lake Sevan – additional 70 million cubic meters each year As the calculations show, Sevan-Hrazdan SHPP Cascade will produce electricity of 50 million USD with the water from Lake Sevan, which will be used to repay the loan, while we all know what will happen to US $50 millions. As it turns out, the bank non-arbitrarily finds itself in the center of corruption.
The seven SHPPs of Sevan-Hrazdan cascade belong to “International Energy Corporation” CJSC, while the loan was allotted to its subsidiary – “RusHydro” CJSC. ADB funded 25 millions, the EBRD funded the other 25 millions. “International Energy Corporation” CJSC is owned by “Inter RAO UES” Company. The SHPP modernization project hasn’t been submitted to the public, it didn’t undergo discussions and environmental impact assessment procedures. We are demanding to stop the funding of the project immediately, we are demanding financial transparency and not to start the works unless each component of the project didn’t undergo environmental impact assessment with the participation of public monitoring group.”
May 12, 2014 at 11:03