Since the acquisition of shares of the “International Energy Corporation” CJSC in 2020, the Tashir Group of Companies has started the development and implementation of financial and technical recovery programs of the company.
The necessity for the implementation of these programs proceeds from the following available programs:
- 20 hydro units are installed and operating in the «Sevan-Hrazdan Cascade» hydro power plants. Most of them have been continuously exploited for more than 60-70 years. Only two of the hydraulic turbines have been completely replaced up today. Accordingly, large-scale investments aimed at the replacement and overhaul of the plant equipment are a necessary condition for the reliable and safe operation of the hydro power plants of the Cascade.
- The «International Energy Corporation» CJSC has been acquired with high credit liabilities, whose servicing is a significant burden from the viewpoint of the company's financial indeces.
- In addition to the abovementioned, the issue of the increase of the production efficiency is also urgent, as the plant's hydro units operate under the priority conditions of the irrigation system, which does not provide the optimal modes of water energy use. Besides that the plants operate with a significantly lower load than the design capacities, due to the legal restrictions on water releases from Lake Sevan.
Taking into account the above-mentioned issues, the primary goals of the company are the following:
- To elaborate and implement a complex investment program aimed at maintaining the company's production potential. The work for the realization of this goal has started successfully, and internationally recognized companies have been involved in it in order to provide professional consultation.
- Proceeding from the goals on financial recovery, the Tashir Group of Companies has approved a large-scale financial program from its own financial resources, meanwhile the negotiations are conducted with the international financial institutions on the issues of the attraction as a co-financier.
- The company is currently studying the possibilities on the increase of electricity efficiency, including with the help of international consulting companies studying the possibilities of adapting the efficiency curves of hydraulic equipment to the existing water flows, as well as the possibilities of reducing the losses and more accurate water metering in the irrigation and diversion systems.
The main goal of the "International Energy Corporation" Closed Joint-Stock Company is to ensure safe and reliable operation of electricity production capacities, to create conditions for increasing production efficiency, to promote the training of new specialists in the energy sector and their involvement in the production process.