Moses Gelman: Inter RAO is forced to sell Armenian subsidiaries

The Hrazdan TPP will be sold: the details of the deal will be announced within two days. This was announced on September 29 by the Minister of Energy and Natural Resources of Armenia, Yervand Zakharyan.

“All documents are examined, in two days we will be making an announcement to the entire community. The deal details and new owner’s name will be announced,» said the Minister.

The decision to sell its subsidiary was confirmed by the head of the press service of INTER RAO. But Nikolay Gorelov refused to discover the reason for the sale of the asset, having advised to wait until the completion of the procedure. The decision to sell the Hrazdan thermal power plant was made due to the fact that it has become non profitable to produce electricity in Armenia, — says Moses Gelman, the chief editor of “Industrial Gazette”.

The authorities of Armenia in the relations with the large companies do not calculate the interests of the country, and therefore the logical conclusion for the transfer of state property, in this case, the Hrazdan thermal power plant of the Russian company in 2004, would be the return of TPPs to Armenia to eliminate arrears accumulated by INTER RAO over the years of managing, in his interview to RUSARMINFO has said Moses Gelman.

Note: Before the announcement of the decision on the sale of TPP, it has become known that the stock exchange NASDAQ OMX Armenia on September 23, 2015 suspended the trading of shares of “Hrazdan energetic company”. Thus, the company left the stock market. The «Hrazdan TPP» has been acting as a balancing closing station in conditions of shortage of electricity in winter and during the stop of the Armenian nuclear power plant in cases of preventive maintenance and refuelling.