Public Services Regulatory Commission allows RusHydro sell Sevan-Hrazdan hydro power plant to Tashir Capital

International Energy Corporation applied to the Public Services Regulatory Commission to get permission for selling Sevan-Hrazdan hydro power plant’s shares, PSRC spokesperson Liana Azizyan told Aysor.am.

“The commission examined the application and gave its consent for selling the shares on September 11, 2019,” Azizyan said.

She noted that in the application the company also requested to get permission for selling 90% of the shares to Hrazdan energy organization.

In March 2017 the 100% of shares of Hrazdan energy organization were sold to Tashir Capital company.

Earlier Russian Kommersant reported that RusHydro company is planning to sell Sevan-Hrazdan hydro power plant to the structures of Tashir group of companies belonging to Samvel Karapetyan.

The paper said the cost of the cascade may amount to 173 million Russian rubles (2 703 704 USD). The buyer is also obliged to close the credits.

According to experts, the deal is beneficial for two parties as RusHydro will free from debts and Tashir will expand its presence in the energy sector of the country.

Liana Azizyan noted that after the deal is signed the commission must get the copies in two-week time but the PSRC has not received them yet.