Armenia’s Minister of Territorial Administration and Infrastructure, Gnel Sanosyan, held a meeting with Carlo Zorzoli, Chief Executive Officer for Europe and Africa at Contour Global.
The meeting focused on discussing the company’s future activities in Armenia, its current operations, and investment plans.
According to the government’s press service, the parties agreed to continue discussions in a working format. This indicates the intention of both sides to maintain constructive dialogue and further develop cooperation.
The American company Contour Global owns the Vorotan Hydropower Cascade in Armenia. Under a previously signed agreement, the company committed to investing $180 million in Armenia’s energy sector.
The Vorotan Hydropower Cascade plays a significant role in the country’s energy system, providing around 15% of Armenia’s electricity. The total installed capacity of the complex is 404.2 MW, consisting of three hydropower plants: the Spandaryan, Shamb, and Tatev Hydropower Plants.
