The Issue of Sale of "Yerevan Thermal Power Plant" was Never Discussed

The RA government has never discussed and is not going to discuss the option of selling of the station in return for the accumulated debts of the "Yerevan Thermal Power Plant" to the "GazpromArmenia".
So, the various comments regarding the possible sale of "Yerevan Thermal Power Plant" circulated by the mass media in recent days, have no relation with the reality.

The existing debt’s structure was been presented in the Loan Agreement on <Financial Recovery Plan of the Energy Sector>, signed between the RA Government and the International Bank of Reconstruction and Development, on May 12, this year, under which the World Bank has provided a preferential loan of 30 million USD.

It has been repeatedly declared that part of the loan will be spent on a partial repayment of the "Yerevan Thermal Power Plant"'s debt to the "Gazprom Armenia".   

In the result of the measures implemented in the framework of the Program of Financial Recovery of the Energy System, the considerable part of the debt was paid off in recent months. Currently it amounted not 52.3 million, but 33.8 million dollars. The remaining part of the debt is to be implemented in the near future.

For the purpose of the financial rehabilitation of "Yerevan TPP", it have already undertaken measures in the direction of the  financial improvement, increasing the efficiency and cost optimization of the Station, by the Commission created by the RA Minister of Energy and Natural Resources.

The results are already visible. The Ministry of Energy and Natural Resources of RA submitted a detailed plan to the RA President, which provides to carry out the major part of the financial rehabilitation plan of the "Yerevan Thermal Power Plant" up to the 1-st of the August, 2017 (the beginning of the regular tariff year).