Dzoraget in Claws of HPPs: Who Are HPP Owners?

Dzoraget in Claws of HPPs: Who Are HPP Owners?, Mkrtich Karapetyan

On February 3, it became known that “Lorva Amrots” LLC had applied to the Ministry of Environment for the construction of two SHPPs on the Dzoraget River in Lori Region - “Loriberd 1” and “Loriberd 2” and issuance of water use permits.

Currently, four SHPPs are being operated on the Dzoraget River, the construction of one new SHPP is expected to be completed this year, and two SHPPs have in fact applied for a permit. “Lorva Amrots” LLC was founded in 2004, 80% of the company is owned by Samvel Hunanyan, 20% - by Vazgen Manukyan, Ex Chair of Public Council, Founder of Vernatun Public and Political Club. “Dzorahek”, a state-owned hydropower plant since the Soviet era, has been privatized. The buyer was “Dzoraget Hydro” LLC. There have been reports that the real owner of “Dzoraget Hydro” LLC is Serzh Sargsyan's son-in-law, former Armenian Ambassador to Vatican Mikayel Minasyan, the company shares were also owned by two companies registered on Virgin Islands - “VOD Group” LLC and “MGDC Inc BVC” LLC as well as two natural entities Armen Petrosyan and Leonid Arevshatyan. Leonid Arevshatyan is from Michael Minasyan's circle.

In 2016, “Energo Invest Holding” CJSC became a 100% shareholder of “Dzoraget Hydro” owned by “Tashir Capital” CJSC belonging to Armenian Businessman Samvel Karapetyan and his family living in Russia. According to EcoLur’s monitoring, if 11% of the Dzoraget River is currently in the pipes, if “Dzoraget 4” is operated, the river load will increase and exceed 20%. And if permission is given to “Loriberd 1” and “Loriberd 2”, then the load will increase.

16:41 February 14, 2020


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