Armenian regulator allows sale of Hrazdan thermal power plant to Tashir Capital
Vasil Khachatryan, CEO of Hrazdan Energy Organization, the owner of Liormand Holdings Ltd, said Liormand Holdings Ltd is registered in Cyprus and belongs to Tashir Group. He said the PSRC’s decision allows re-registration of the company in Armenia to make its activities more transparent and ensure payment of all taxes and duties on the territory of Armenia.
Liormand Holdings Ltd acquired the 100% stake in Hrazdan Energy Company (Hrazdan thermal power plant) at the end of 2015 from Russian Inter RAO. Vasil Khachatryan said also the process of transferring the power plant to Liormand Holdings Limited was completed in January 2017.
According to him, the power plant has no problems with electricity supplies and production, but all equipment at the plant was produced in 1966-1970. Tashir Group is now taking stock of the utility in order to replace the outdated equipment, he said.
Vasil Khachatryan said also the utility sold last year 407 million kWh of electricity, down from 507 million kW sold a year earlier. This year it has already generated 156 million kWh of electricity.
The installed capacity of the Hrazdan thermal power plant is 1,110 MW – it has four 200 MW power units, two 50 MW and two 100 MW units. All the units are functional, but the demand for the power of the plant is about 400 MW.
Hrazdan Energy Company is one of the five large electricity generating companies of Armenia. It produces electricity only when there is shortage of it at the domestic market. In 2014 it accounted for 12.3% of all electricity produced in the country. --0--