Located along the Hrazdan river and running about 70km from Lake Sevan to the capital Yerevan, the Sevan-Hrazdan Cascade is an essential component in Armenia's electricity network. With a total installed capacity of 565MW, it provides 10% of the country's annual electricity production and its water channels supply enough water to irrigate 70% of Armenia's agricultural land.
The EBRD loan will provide essential support to the overall rehabilitation programme of the cascade which was built between 1936 and 1961 and has had almost no further investment since. The rehabilitation of the hydropower plants will raise the technical standards in line with best international practices and restore the lost capacity while avoiding further deterioration. This will ensure the continued stability and security of the country's electricity supply while improving overall generation efficiency and carbon emissions.
IEC, established in 2003, is majority owned by OJSC RusHydro.
