“Artsakh HPP’’ OJSC produced 181 mln kWh electricity in 2017.
Results and projects of “Artsakh HPP”: Company director tells about the most important
STEPANAKERT, FEBRUARY 15, ARTSAKHPRESS:Vahram Beglaryan, General Director of “Artsakh HPP’’ OJSC told Artsakhpress about the aforesaid. He added that the company’s clear profit totaled 1bln 800 mln drams in 2017.
“This year we will put into operation 2 more HPPs — Lev-1 and Terghe-4, and thus the number of HPPs included in Artsakh HPP will reach 8. We are planning to start construction works of another HPP (Tartar-1) in near future,’’ Vahram Beglaryan said.
In his words, besides hydro energy, they are planning to build photovoltaic stations to get solar energy. “Taking into consideration solar energy development policy in Artsakh, we are discussing investments in this sphere,’’ the director said.
Speaking about constantly increasing interest in the company, Vahram Beglaryan noted that Artsakh HPP is one of those companies of Artsakh, where foreign capital has a great role. He added that while at the time of creation, in 2007, the state had 100% stake in the company, today its participation is 10.33%. Principal shareholders are from abroad. He said this is an important pointer since foreigners’ participation in business sector development of Artsakh shows that our country has a favorable business environment.
As a result of issuing shares, company’s authorized capital totaled 10 bln 650 mln. Artsakh HPP has 1200 shareholders, who get acquainted with financial accounts of the company in annual meeting. They also elect board of directors consisting of 7 members. The board appoints General Director of the company.
“At the moment shareholders of the company get dividend yield of 10% for their stocks. This is tend to increase since during the past 10 years financial means received for building HPPs were directed at investment programs,’’ said Vahram Beglaryan.
Director of the company informed that during the past 10 years the number of employees doubled reaching 200. The average salary amounted to AMD 218,000. In 2015-2017 the company paid a total of 2 bln 300 mln drams. In this regard Artsakh HPP is one of the largest taxpayers of Artsakh. It was among top ten in the last several years.
