ArmInfo.Prime Minister of Armenia Nikol Pashinyan in the United States held a working breakfast with the executive director of the energy company Contour Global Joseph Brandt.
As the press service of the government reports, the interlocutors discussed the results of the work of the company "Contour Global Hydrocascade" in Armenia, discussed the investment program of the company. The parties noted the importance of bilateral effective cooperation.
We would like to remind that on August 12, 2015, the American company SontourGlobal and the Armenian government announced the completion of the deal on the acquisition of the assets of the Vorotan cascade of three hydroelectric power stations with a total capacity of 405 MW located on the Vorotan River in the southern part of Armenia.
The Vorotan cascade of hydroelectric power plants accounts for about 15% of the installed capacity of the Armenian electric system. It provides electricity to 250,000 homes and private households. Under the terms of the agreement, Contour Global Hydro Cascade will own and operate three hydropower plants located on the Vorotan River, which will supply electricity to the Armenian energy system under a long-term contract for the purchase of electricity.
For six years, ContourGlobal has committed to invest ? 50 million in a project to modernize hydroelectric power plants to improve their performance, safety, reliability and efficiency.
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