Three Hydropower Plants Proposed for Privatization

YEREVAN (Hayastani Hanrapetutyun)–The Areni and Azatek hydropower plants have been sold to the Yerevan-Energo company in a move to privatize these previously state-owned services. The Azatek plant was sold for $18.1 million and the Areni plant was sold for $15.1 million. The Yeghegnadzor plant was not sold because the applications were received after the imposed deadline. Head of the Reconstruction Department of the Yerevan Ministry of Energy–Alexander Kocharian–said that out of the 25 small hydropower plants to be sold–only some were currently operating. According to Kocharian–creation and development of the private sector began in 1992. Since then–more than 20 licenses were provided for the operation of the hydropower plants. The hydropower plants will be sold in intervals. Of the 25 plants to be sold–four were excluded from the list for various reasons.

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