American company to participate in Shnogh HPP construction project

The American "The Robbins Company" will participate in the construction of Shnogh HPP construction project. The RA Ministry of Energy infrastructures and Natural Resources has signed a memorandum on cooperation with the registered in Armenia "Debed Hydro" LLC, a subsidiary of Energo Invest Holding CJSC,  and popular The Robbins Company, which has a great international experience in the drilling of large tunnels.

The memorandum was signed by RA Minister of Energy infrastructures and Natural Resources Ashot Manukyan and US Ambassador in Armenia Richard Mills.

Speaking at the opening ceremony, Ashot Manukyan noted: "The construction project of Shnogh HPP is an important step towards Armenia's energy security in the context of the strategy adopted by the Government of Armenia. The Armenian government highly appreciates the fact that this step is taken by American partners. I would like to thank "Debed Hydro" and "Robins" companies for this initiative, which is of great importance for the energy system of Armenia and, in general, for the country's economy".

The minister also thanked the US Embassy in Armenia and personally Ambassador Mills for for effective support between the private sector representatives of the two countries for long-term cooperation.

- This year we celebrate the 25th anniversary of our diplomatic relations with the Republic of Armenia and I can't recall a better symbol of the results of our 25-year partnership than the achievement of today's celebration. – said US ambassador Richard Mills. - Signing of memorandum of understanding between "Debed Hydro" and "Robins" companies is example of US-Armenia cooperation in energy sector. I want to thank Minister Ashot Manukyan for present the investment opportunity for "Shnogh" HPP station for me personally, and also for congratulating him on the fact that the American world-class company The Robbins Company, through our joint efforts, provided Armenia with access to technology, as well as equipment for tunnel drilling as an implementation of this project".

According to the signed memorandum, the American company will invest in the "Debed Hydro Company's" Charter Capital providing a 22-kilometer-long water tunnel drilling machine provided by the "Shnogh" HPP construction program providing local training for machine operation, as well as providing technical assistance throughout the tunnel drilling.

It will be remind that a tripartite framework agreement on the design, construction, financing, construction, management and ownership of the "Shnogh" HPP located in Lori region with an installed capacity of 76 MW was approved by the government on August 10 and signed by the government, Debed Hydro as a developer) and a closed investment fund "Investors Club of Armenia" (as a sponsor).

Earlier, the government approved the feasibility of building a "Shnogh" HHP on the Debed River, including the project in the list of measures to ensure the implementation of the Energy Security Concept of the Republic of Armenia, as well as highlighted the need for private investment in the construction of the plant and the provision of appropriate guarantees to investors. to use the state-private partnership option.

The cost of the "Shnogh" HPP project is estimated at $ 150-190 million.