“Last year 57 percent of the consumed energy in the republic out of 250-260 mln k/Wh was the production of "Artsakh HPP" OJSC. For this year the company plans to provide 65 percent of electricity consumption”,- in a conversation with Artsakhpress reporter said the General Director of “Artsakh HPP" OJSC Vahram Beglaryan.
"Artsakh HPP" OJSC to increase its production volume. This year it is expected to provide 65% of electricity consumption
“Last year 57 percent of the consumed energy in the republic out of 250-260 mln k/Wh was the production of "Artsakh HPP" OJSC. For this year the company plans to provide 65 percent of electricity consumption”,- in a conversation with Artsakhpress reporter said the General Director of “Artsakh HPP" OJSC Vahram Beglaryan.
“The strategic goal of the company is to expand production capacity through the exploitation of new hydropower plants with modernized equipment. The company carried out a large-scale investment projects for the construction of new power plants. To replenish the capital Artsakh HPP conducted three public offering of shares from 2009-2011 as a result of which the share capital of "Artsakh HEK" increased by 108 percent. At present the company has 1246 shareholders, the largest shareholder being the NKR government (around 48 per cent of shares).
The invested funds were spent on the construction of new hydropower plants. At first the company operated only Sarsang Hydropower Plant with capacity of 50 megawatt, with annual energy production of 100 million kWh. From 2010-2012 “Trghe-1”, “Trghe-2”, “Mataghis 1” and “Mataghis 2” HPP were put in commission and the total capacity of the company increased by 33.3 percent and amounted 66,7 MW and the annual production capacity has increased by 63% and amounted 170 million kWh.
Speaking of new hydropower plants construction projects, the director informed that the construction of a small hydropower plant "Trghe 3" has begun. The plant is expected to become operational this autumn and will develop a total capacity of 5 M/Watt, the energy consumption volume will form 16.5 mln kw/h. The company plans to contribute to the development of other economic sectors. This greatly increased the number of employees (by 71%), reaching about 180 people with an average salary of 135.000 AMD. All shares issued by the Company are included in the list of stock exchange NASDAQ OMX Armenia.
