ContourGlobal was founded in 2005 by current CEO Joseph Brandt, along with Reservoir Capital Group, a New York-based investment fund. Today, the company is uniquely positioned to continue its expansion through various ongoing growth projects.
CG is a developer and operator of electric power and district heating businesses. CG manages, owns and operates an existing portfolio of 41 power plants with approximately 3,718 megawatts (“MW”) of installed gross capacity in operation or under construction, which makes up our total installed gross portfolio capacity. Our current portfolio spans 17 countries and 4 continents with a weighted average sovereign rating of BBB (weighted by capacity), utilizing a wide range of fuel types, technology and equipment. Of the 41 power plants in CG current portfolio, 36 are currently operating with a combined installed gross capacity of approximately 3,145 MW, which represents approximately 84.6% of the portfolio capacity (CG portfolio capacity consists of the operating assets and projects under construction that currently do not generate energy). In addition to CG operating assets, there are also six projects under construction with a total gross capacity of approximately 573 MW, which comprises the remaining 15.4% of the current portfolio capacity.
In July 2015, ContourGlobal Hydro Cascade CJSC, the local CG subsidiary, acquired Vorotan Complex of Hydroelectric Power Stations CJSC.
Vorotan Complex of Hydroelectric Power Stations (CHPS) is a complex of three hydroelectric power stations with an overall capacity of 404.2 MW and an average annual power generation of 1.16 billion kWh. The Vorotan Cascade is among the main power generation complexes in Armenia, providing both peak and base load generation, and performing grid stabilization services. The complex is located in the eastern part of Syunik region of the Republic of Armenia, some 240 km to the South-East of Yerevan. The Cascade has a total head of 1,223 m. The design of the Vorotan CHPS began in 1954, construction started in 1961. In 1970 the first power station, Tatev HPP, was put into operation, followed by Shamb HPP in 1978 and Spandaryan HPP in 1989.
Vorotan CHPS is located at the Vorotan River. It is comprised of four reservoirs and one Daily Regulation Pond. The Spandaryan Reservoir is the upper reservoir of the cascade. Highest water level is at 2,063 m a.s.l.; minimum water level is 2,030 m. The water is directed through an 8.1 km long pressure tunnel and a 2.17 km long penstock to Spandaryan HPP. The discharge from Spandaryan HPP and water from Vorotan River is retained by Angeghakot dam forming the Angeghakot Reservoir. Highest water level is at 1,677.4 m a.s.l.; minimum water level is 1,664.5 m. Water flows from this reservoir via a 10.5 km long gravity fed tunnel to the Tolors Reservoir, which is also fed by the Sisian and Ayri Rivers. Highest water level is at 1,651.5 m a.s.l.; minimum water level is 1,625.5 m. From the Tolors Reservoir, the water is supplied to the Shamb HPP via a 6.9 km long pressure tunnel and a penstock of 1.26 km in length. Below the Shamb HPP is the Shamb Reservoir (also named Tatev Reservoir) which is also fed by water from Laradzor River. Highest water level is at 1,335.4 m a.s.l.; minimum water level is 1,333.8 m. From this reservoir water flows through an 18.4 km long gravity fed tunnel to the Daily Regulation Pond of the Tatev HPP, from where the water is directed to Tatev HPP via a 1,900 m long pressure penstock.