EcoLur
Asian Development Bank (ADB) will allot a loan of 25 million USD for the rehabilitation of Sevan-Hrazdan Cascade. ADB signed a $25 million loan with International Energy Corp. (IEC) – which is majority owned by RusHydro, the Russian Federation’s largest hydropower generation company, while RusHydro, in its turn, is 67.12% owned by the Russian state. This information is displayed on ADB official website. The article displayed on the website entitled “Armenia's Aging Hydropower Plants Get New Life with ADB Private Sector Loan” says that Sevan-Hrazdan Cascade system now requires significant rehabilitation to extend its working life and reduce the risk of major failures. “The rehabilitation of the Sevan-Hrazdan Cascade Hydropower System will enhance Armenia’s energy security by supplying clean and affordable electricity generated with local water resource. It will help transform IEC with modern equipment and practice,” said Michael Barrow, Director in ADB's Private Sector Operations Department.
Sevan-Hrazdan Cascade has seven hydropower plants and is located on the Hrazdan River from Lake Sevan to Yerevan. The Cascade produced 10% of the electricity in the country.
May 24, 2013 at 16:59