US $ 140 Million for Vorotan Hydrocascade

US $ 140 Million for Vorotan Hydrocascade


“Contour Global Hydro Cascade” Company, which has been operating Vorotan Hydrocascade, has been awarded investment package of US $ 140 million. The package consists of a loan of US $ 45 millions from the International Finance Corporation, a member of the World Bank, US $ 65 millions from the funds of the German Development Bank and another 30 millions from the German Corporation of Investment and Development. The IFC is one of the shareholders of the Vorotan Hydrocascade in the amount of 20%. The Vorotan Hydrocascade was privatized in 2015, and it comprises Tatev, Shamb and Spandaryan hydropower stations and 5 reservoirs – Spandaryan, Shamb, Tatev, Tolors and Angeghakot. The Vorotan Hydrocascade covers almost 15% of the electricity produced in Armenia. Its aggregate capacity makes up over 400 MW, while the annual volume of electricity production reached 1.16 billion kWph.


17:07 February 15, 2017


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