Monday, July 18 2016 18:20

ArmInfo. Refurbishment of Tatev Hydro Power Plant has started within the program of modernization of Vorotan Cascade of HPPs, representative of the plant Aram Yelyan has told journalists.

According to him the main equipment of the plant will be replaced. HPP will be equipped with modern European equipment. Particularly, the systems of high and low voltages will be replaced, as well as turbines and power equipment. Due to reconstruction of the HPP its efficiency will be improved and safety will be increased. As a result the life span of the Tatev HPP will be prolonged by 30 years.

The plant underwent the latest repair in 2005.  On January 29, 2014 ContourGlobal and the Government of Armenia announced that they have signed an agreement for ContourGlobal to purchase and modernize the Vorotan Hydro Cascade, a series of three hydroelectric power plants totaling 405 MW on the Vorotan River in southern Armenia. Under the terms of the agreement, ContourGlobal Hydro Cascade, a direct and wholly owned subsidiary of ContourGlobal, will own and operate the three hydroelectric facilities located on the Vorotan river and will supply power to the Armenian grid under a long-term power purchase agreement. ContourGlobal will also invest $70 million over the next six years in a refurbishment program to modernize the plants and improve their operational performance, safety, reliability, and efficiency. To note, this has become the largest investment made by private US company and the first investment made by the USA into Armenian economy.

ContourGlobal is a New York based international power-generation company with approximately 3,500 MW in operations or under construction in 17 countries and on four continents. ContourGlobal's 1,650 employees manage, own and operate a portfolio of 33 power plants utilizing a wide range of fuel types and technologies including renewable energy production based upon Hydro, wind, solar and biomass, as well as an extensive fleet of conventionally powered thermal power plants. In the wider Eastern Europe area, ContourGlobal currently owns and operates approximately 1100 MW of power generation businesses in Bulgaria, Ukraine, Romania, and Poland.