YEREVAN, MARCH 19, ARMENPRESS: The Public Services Regulatory Commission of the Republic of Armenia handed over the function of the mutual energy implementation between Armenia and Iran to the Yerevan Thermal Power Plant CJSC. The Press Secretary of the Public Services Regulatory Commission Mariam Stepanyan told Armenpress that the transfer of the function is conditioned by the fact that the company, managing the Vorotan Hydropower Plant complex, was sold to the American Contour Global Hydro Cascade and there was the necessity to hand over the electric energy mutual flows implementation function to a state organization.  

The mutual flows of the electric energy between Armenia and Iran have been implemented since 1998. Earlier the function was carried out by Hayenergo Company and then by Vorotan Hydropower Plant complex.

The Government of Armenia and the American Contour Global Hydro Cascade on January 29 signed a $180 million agreement on the sale of the property of Vorotan Hydropower Plant complex.