Friday, May 20 2011 15:57

Hrazdan Power Company Stocks Admitted To Trading At NASDAQ OMX Armenia Free Market


ArmInfo. Starting from May 20, 2011 common nominal stocks of "Hrazdan Power Company" open joint stock company (HRPC) are allowed to trading at NASDAQ OMX Armenia free C market. A total of 1,597,430 stocks with nominal value of AMD 10,000 were admitted, NASDAQ OMX Armenia press-service reported.

Inter RAO UES acquired the full package of the company's shares earlier in May. Earlier 100%-1 share of Hrazdan TPP belonged to Rosneftegas OJSC, The owner of the 1 share was Federal Agency for State Property Management of Russia. In 2003 the plant was transferred to Russia in exchange for the state debt ($31 mln).

The gross output capacity of the plant is 1,110 MW, while functioning output capacity is 760 MW. Within the internal market of Armenia HrazTES has the status of a balancing station, generating electricity for internal consumption only in times of deficit in the Armenian energy system. For internal consumption, the Hrazdan Thermoelectric Plant generates electricity only when a deficit in the Armenian energy system is registered, and this usually occurs in the fall-winter period and when the ANPP stops its operations. At the same time, RazTES is extremely important for electricity export. HrazTES consumers 360-370g fuel per 1kWh electric power. For comparison, the modernized Yerevan TPP consumes 270-280g.
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