Russia investing in Armenia’s energy

Russia is planning to invest around USD 40 million during the next two years in the Armenian energy sector. Half of the amount will go into the modernising and rehabilitation of hydro-electric power stations in Razdan Kaskade. Most of Armenia’s hydro-electric power stations are managed by the international energy corporation. One of the founders of this company is Russian Inter RAO AES, which incidentally is the managing company of Armenia’s existing nuclear power station until 2013; the possibility of continuing to operate this power station is currently under discussion.