"International Energy Corporation" Closed Joint Stock Company was registered in the Republic of Armenia on May 8, 2003.
On July 17, 2003 the company acquired the property of "Sevan-Hrazdan Cascade" CJSC and on September 01, 2003 Public Services Regulatory Commission of the Republic of Armenia granted a license No. 0108 for production of electrical energy (capacity).
From the first day of its existence the Company has pursued and is pursuing the policy of rehabilitation and technical modernization of Cascade's plants with the improvement of work and payment conditions. New office of the company corresponding of modern standards was built during the shortest period of time (during 2004). Technical and engineering staff of the company has been fully selected from the personnel of "Sevan-Hrazdan Cascade" CJSC.
Sevan-Hrazdan HPPs Cascade includes 7 HPPs: Sevan's, Hrazdan's, Argel's, Arzni's, Kanaker’s, Yerevan-1 and Yerevan-3 HPPs the total installed capacity of which is 559.4 MW, and annual design generation is 2.32 mlrd KW/h.
The HPPs are placed on the River Hrazdan and at present they use irrigation water flow from the lake Sevan and streams waters of Hrazdan River that gives an opportunity to irrigate 70% of Armenian agricultural lands.