A contract will be signed between the Government of Armenia, Debed Hydro LLC and the non-public investment fund "Armenian Investment Club" on construction of Shnogh HPP . The government approved the signing of the contract at today's session.

According to the decision, it is envisaged to approve the Agreement on design, construction, financing, construction, disposition, possession, exploitation of Shnogh hydroelectric power station with a capacity of 76 MW.

It is anticipated that the Armenian government will assist the developer to obtain a land plot for the construction of a hydropower plant.

The developer is obliged to carry out construction works of this object for at least 20 years from the date of commissioning of "Shnogh" HPP. The Government of the Republic of Armenia is committed to guarantee purchase of 500 MW electricity annually from "Electric Networks of Armenia" CJSC.

Implementation of the Shnogh HPP project on Debed River will allow Armenia to increase hydropower potential of the republic. According to preliminary estimates, investments will amount to $ 150-180 million. Implementation of the project will create new jobs in Lori region.

After the operation of the HPP it will satisfy 5% of domestic consumption, thereby contributing to strengthening of energy security.

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