Newsfeed

Political forces of Armenia keep condemning last night's events, while Republican Party still silent

Police say police officer killed by sniper from area of seized police compound

Another member of Heritage Party Hovsep Khurshudyan detained

One of the medics held "hostage" by "Daredevils of Sasoun" group left the seized Police Patrol Service Regiment on July 29

U.S. Embassy urges Armenian government to take immediate steps to ensure violations of Armenians' constitutional and human rights do not recur

Armenian Police make statement: Leaders of protest action of July 29-30 resorted to sabotage and attacks

National Security Service of Armenia sets deadline for "Daredevils of Sasoun" to surrender: Otherwise they will be shooting at sight

More and more public and political organizations condemn past night's events in Yerevan

Prosecutor General's Office of Armenia initiates criminal case on fact of violence against journalists overnight into July 30 in Yerevan

Criminal charges brought against Heritage Party vice chairman Armen Martirosyan and activist Andrias Ghukasyan

EBRD to subscribe for 33,500,000 ordinary shares of Lydian International Limited at a price of C$11.39 Million

Jailed oppositionist Jirayr Sefilyan makes statement on recent events in Yerevan

Latest data from Healthcare Ministry: 73 people were hospitalized as a result of last night's events in Yerevan

Armenia's political forces and NGOs have already condemned last night's events in Yerevan

Armenia's Ombudsman: Police hinders detainees from meeting their lawyers

Deputy Chairman of Heritage Party Armen Martirosyan detained

Secretary General of CoE is concerned over events in Yerevan

According to Stratfor there is link between seizure of Police building in Armenia and negotiations over Nagorno-Karabakh settlement

Soldier of NKR Defense Army wounded

Oxfam jointly with EDRC summed up monitoring results of social service for lonely elderly programs

US Embassy to Armenia calls for immediate, safe, and unconditional release of medical personnel

Situation in Yerevan is relatively calm after clashes overnight

Supporters of Daredevils of Sasoun marching from Liberty Square to Khorenatsi Street

Protest of supporters of Daredevils of Sasoun kicks off on Liberty Square

Healthcare Ministry: Doctors, who are on territory of seized building, applied first aid to injured Araik Khandoyan

Helsinki Citizens' Assembly Vanadzor Office: Police has detained activists Albert Baghdasaryan and Hasmik Yevoyan

Armenian Police: Wounded members of Daredevils of Sasoun Artur Melkonyan and Armen Lambaryan are hospitalized

Beeline and Classical Music Development Foundation sup up annual results of cooperation

Armenian NSS informs about detecting new supporters of "Daredevils of Sasoun" group

Armenian Police: Two other members of Daredevils of Sasoun are wounded in firefight on the territory of the seized building

"Oxfam" Office in Armenia revealed certain omissions in "In-home social services for lonely elderly" program

Armenia's Police: Firefighting occurred on territory of Police Patrol Service Regiment-Araik Khandoyan is wounded

Armenian Ombudsman urges state bodies and public figures to activate efforts for eliminating any forms of human rights violations

VTB Bank (Armenia) is the first on Armenian market to launch money transfers via TelCell system

Journalist Levon Barseghyan to be released

Son of Arshak Sadoyan, member of Public Council, arrested over violence against police officer

Lawyer: Health condition of wounded Pavel Manukyan deteriorates, as he refuses food and medicines

Avaz Hasanov: Karabakh conflict can be settled by common consent, if Russia is left out of it

Director of Emergency Aid CJSC says wounds of members of "Daredevils of Sasoun" in territory of seized police regiment not heavy

Family of Monte Melkonyan addresses Serzh Sargsyan over arrest of Alek Yenigomshyan

Newspaper: General Vitaly Balasanyan again mediates talks between "Daredevils of Sasoun" and authorities of Armenia

Police search Alek Yenigomshyan's house

Sources: Missing contract officer of 102nd Russian military base in Armenia found

Standoff in Yerevan, where armed group of Karabakh War veterans seized Police regiment, enters day 13: no incidents occurred overnight

Vartan Oskanian urges immediate release of Alek Yenigomshyan

"Please take me as hostage": Supporters of Daredevils of Sasoun have new slogan for today's protest

Armenia's NSS established identity of person who made false alarm on terror threat on July 27

Beeline continues registering participants of "Eurasia Mobile Challenge" local round

66 citizens were detained on July 27, 61 of them released

Anti-crisis group: Armenian authorities' violent actions provoke a wave of civil disobedience

Regional

Robert Kocharyan: The only positive thing about privatization of the Vorotan Cascade of HPPs is investment of U.S. capital in Armenia's energy system

  • by Alexandr Avanesov

  • Monday, June 23, 19:53

 The only positive thing about privatization of the Vorotan Cascade of HPPs is investment of the U.S. capital in Armenia's energy system, Robert Kocharyan, the second president of Armenia, said in an interview with yerkir.am.

He said the most attractive element of energy generation in Armenia is sold on a very obscure scheme in circumvention of the effective law and neglecting the Parliament's views. "Inherently, the deal on sale of the Vorotahn HPPs resembles a sale of some old office furniture," the second president said. According to him, the contract on sale of the Vorotan HPPs is drafted very asymmetrically. It is not in favor of Armenia, as it leaves Armenia no chances in case of legal proceedings. 

"Obviously, such wrong deal will lead to an increase in the electricity rate in Armenia. Actually, the ordinary citizens will again suffer from the mistakes and greed of statesmen. There is an impression that the contract was drafted without participation of the Armenian party. It is not too late to revise or even disclaim that contract. The deal was so unlawful that the persons involved in it will be brought responsible one day.  It is just a matter of time!  Although, it is a very obscure deal also for the buyer,"  Kocharyan said.  Earlier, Head of the Public Services Regulatory Commission Robert Nazaryan said the license of the Vorotan Cascade of HPPs will be extended. He said that sales deal is not competed and with the issue of the license that process will be significantly speeded up. 
On 29 January 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, for a purchase price of $180 million USD.

To issue the license (and recognize CountourGlobal as the owner) a closure act is required. However, a provision in the sales contact claims that each of the parties has a right to terminate the deal if it is not completed within 75 calendar days.  However, the Head of the Government Staff - Minister David Haroutiunyan said the parties have extended the deadline for completing the deal to meet the interests of the investor. 
Earlier, Deputy Minister of Energy and Natural Resources Areg Galstyan told reporters that the Government revises some provisions of the contract on sale of Vorotan Cascade of HPPs, but the deal will not be canceled.  He said that there are some technical issues that are being verifies by the parties.  However, he could not say if the American party has already provided the funds under the contract.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields