EcoLur
The new owner of Vorotan Hydropower Plant Complex, "Contour Global" Company, can take out loans by pledging the reservoir dams in the hydrocascade, as the company Armenian Representative Ara Hovsepyan mentioned in her interview with EcoLur.
The hydrocascade include four reservoirs of strategic significance - Spandaryan, Angeghakot, Tolors, Shamb and one basin of day-round regulation.
"In general, the body belongs to the state, but the company is the owner and it operates them. All the hydrostructures, including dams, pressure and non-pressure tunnels belong to the company with site-development right.We are not entitled to sell it, but we can take out loans pledging them. We can't pledge the reservoir, it's definite, but we can pledge the reservoir dam," Ara Hovsepyan said.
In reply to the next question to what extent the company bears responsibility for the security of the reservoir, Ara Hovsepyan said, "We bear responsibility for the continuous operation of Vorotan and to ensure non-interrupted operation of Vorotan."
EcoLur talked to Hakob Sanasaryan, Chairman of Greens Union of Armenia, on the security of reservoirs in Armenia, "If the reservoir dam is pledged, it means the whole reservoir is pledged. Unless the money is not redeemed, the owner of the reservoir is the loan provider," Hakob Sanasaryan said.
October 15, 2015 at 13:32