September 7, 2015
ContourGlobal Hydro Cascade CJSC
ContourGlobal was founded in 2005 by current President and 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 101 power plants with approximately 4,317 megawatts (“MW”) of installed gross capacity in operation or under construction, which makes up our total installed gross portfolio capacity. The current portfolio spans 18 countries and 3 continents with a weighted average sovereign rating of BBB (weighted by capacity), utilizing a wide range of fuel types, technology and equipment. CG currently portfolio has 101 Thermal and Renewable power generation assets operating with a combined installed gross capacity of approximately 4,300 MW.
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 1.11 billion kWh. The Vorotan Cascade is among the main power generation complexes in Armenia, providing both peak and baseload generation, and performing grid stabilization services. The complex is located in the eastern part of the Syunik region of the Republic of Armenia, some 240 km to the South-East of Yerevan. The Cascade has a total head of 1,335 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. From mid-2018 to the end of 2020, CGHC started an electromechanical refurbishment program in the three power plants with seven units for turbines, generators, auxiliary systems, transformers, protection & control systems, switchgear equipment, and auxiliary electrical systems. The works are performed in parallel with the continuous operation of all three plants.