Thursday, August 24 2017 16:14

ArmInfo. High Voltage Electric Networks will be transferred to the trust management of CJSC Tashir Capital. The corresponding draft decision was approved at a meeting of the Armenian government on August 24.

As the Deputy Minister of Energy Infrastructures and Natural Resources of Armenia Vardan Gevorgyan stated, the draft decision provides for the transfer of 100% of the state's shares to the company that manages CJSC "Electric Networks of Armenia". The main goal of the project, as explained by the deputy minister, is the centralization of the same functions and through synergy to achieve the maximum cost optimization.

In addition, it is envisaged that the management company will assume the obligation to implement the investment program for the construction of the Armenia-Georgia electricity transmission line, the transformer and service substation, and the repair and modernization of the six substations of the system.

After the approval of the project, Gevorgyan pointed out, the management company will have to submit for six months to the government for approval a trust management program that must contain obligations and clear indicators. "The agreement will come into force only after the approval of the program of trust management by the government," the deputy minister said. At the same time, the state reserves the right to refuse at any time from trust management, only notifying the management company about it, he noted.

To note, according to the certificate of justification for the resolution, the agreement provides for the transfer of 100% of the shares of HVPN belonging to the state to the trust management of Tashir Capital (649,231 shares, each with a par value of 13,600 AMD). The company will receive the right of trust management for a period of 5 years with the possibility of subsequent extension of the agreement for the same period and on the same terms.

There are 13 220 kV substations and 2 110 kV substations on the balance sheet of HVPN. The total capacity of 33 power transformers is 2561.0 MVA, and one switching point is 220 kV. The power of operating power transformers installed at substations of 220 kV and 110 kV is sufficient for the transmission of consumed electricity. The total length of overhead lines with design parameters 330.  220, 110 kV is 1914.73 km, including 127.62 km - 330 kV, 1366.51 km - 220 kV, 420.6 km - 11 kW, 26.58 Km of which are on the territory of Georgia, as well as 9.6 km - on 10 and 6 kV. The company also operates a Lori wind farm with 4 units with a total capacity of 2.64 mW. The power system of the Republic of Armenia via the switching point "Agarak" 220kV is connected to the power system of the Islamic Republic of Iran via interstate lines "Agar-1,2" at 220 kV, and over the air lines "Alaverdy" 220 kV, "Lalvar" and "Ninotsminda" in 110 kV with Power system of the Republic of Georgia. In the territory of Armenia, HVPN carries out economic activities related to transmission and production of electric power. The company consists of an administrative apparatus with its divisions and 9 branches, of which the branches "Eastern", "Western", "Centralized", "Gori", "Zangazur", "Northern", "Southern" carry out the main licensed monopoly activity - Energy (capacity) of the Republic of Armenia on their high-voltage transmission lines.

To recall, the group of companies "Tashir", headed by a large Russian businessman of Armenian origin Samvel Karapetyan and the company "Inter RAO" on September 30, 2015 signed an agreement on the purchase and sale of electricity assets of the Russian energy holding company in the Republic of Armenia - CJSC "Electric Networks of Armenia" and Hrazdan TPP. Electric Networks of Armenia was established in May 2002 as a result of the merger of four state regional electricity distribution and distribution companies: Yerevan Electric Networks, Northern Electric Networks, Southern Electric Networks and Central Electric Networks. The main activity of the company is the regulated distribution and sale of electricity. The total length of the networks is 36 thousand km. The company serves about 985 000 consumers. CJSC "Electric Networks of Armenia" has an exclusive license for transmission and distribution of electricity in the territory of the Republic of Armenia at guaranteed tariffs, calculated on the basis of the company's costs and a regulated rate of return on investment.