"Artsakh HPP" summed up the results of its 11-year activity

On November 14, festive event was organized in Stepanakert on the occasion of the 40th anniversary of "Sarsang Hydroelectric Power Plant" and the 11th anniversary of Artsakh HPP OJSC.

"Artsakh HPP" summed up the results of its 11-year activity

STEPANAKERT, NOVEMBER 14, ARTSAKHPRESS: Chairman of the Board of Trustees of the "Artsakh HPP", adviser and representative at large to the Artsakh President, Arayik Harutyunyan, said that it is planned to increase the volume of electricity produced in the country by up to 1 billion kW.

''I assure you that gas, wood, petrol and diesel will not be used in Artsakh in 40 years. We will have a source of energy- electricity, which will satisfy everything. During the last visit to European countries, I mentioned about some investment projects. As of today we can state that there is an agreement according to which more than $ 100 million will be invested in Artsakh,'' Harutyunyan noted.

Arayik Harutyunyan also noted that soon the construction of a solar station with a capacity of 1 MW will start. The next project is the issue of regular shares. We are launching a new interesting project and today a memorandum with European investment companies will be signed with the investment company, according to which around 60 hectares of pomegranate orchards will be established in Martakert region.

Another important initiative is the transfer of the Sarsang waters to the right bank canal of Tartar, irrigating more than 10,000 hectares of land.

Artsakh State Minister, Grigory Martirosyan, congratulated Artsakh HPP and all its founders.

“The example of the company, the extremely high level of corporate management and its contribution to the development of Artsakh's economy is invaluable. Hopefully, we will have many and very successful projects, but Artsakh “HPP” will remain in history as the first in the development of the financial market and energy sector, "said G. Martirosyan.

Summing up the 11-year activity, General Director of “Artsakh HPP’’ OJSC, Vahram Beglaryan, said 7 small hydropower plants have joined Sarsang Hydro Power Plant.

"The volume of annual electricity production has grown by 120 percent. If by 2007 Sarsang HPP was producing 80-90 million kWh of electricity, we planned and expect that the volume of our production in 2019 will be 220 million kWh. Today, besides Artsakh HPP, more than ten electricity producing companies operate in Artsakh.

“More than 10 new hydroelectric power plants are being built. The main achievement of "Artsakh HPP" is that we have managed to create a company that meets international standards. Having more than 1200 shareholders from 10 countries, we continue to expand our horizons,” said Beglaryan.

A number of employees of the company were awarded with awards for their daily work and contribution.

“Artsakhpress" also congratulates its general sponsor "Artsakh HPP" and wishes that the tangible investments made by the company in the economy of Artsakh to be multiplied in the coming years.