Licenses of Hydropower Plants Under Azerbaijani Control Declared Invalid

Licenses for the production of several hydropower plants located in areas under Azerbaijani control have been declared invalid in Artsakh. The information is reported by the Artsakh Public Services and Economic Competition Regulatory Commission.

"During the commission's meeting on January 29, it was decided to declare invalid the licenses for power generation of the 'Charhec' HPP of 'General Energy' LLC, the 'Karvachar' HPP of 'Artsakh HPP' LLC, the 'Lev-1' HPP of 'Artsakh HPP' LLC, the 'Zangezur' HPP of 'Zangezur ESH LLC', the 'Mrav' HPP of 'MRAV' LLC, the 'Mataghis-1' HPP of 'Artsakh HPP' LLC, and the 'Mataghis-2' HPP of 'Artsakh HPP' LLC, taking into account the agreement signed between the Presidents of the Russian Federation, the Republic of Armenia, and the Republic of Azerbaijan on November 9, 2020. At the same time, the companies have been released from their bank guarantee obligations," the statement reads.

It should be noted that due to the war unleashed by Azerbaijan, the Republic of Artsakh has lost hydropower plants with a capacity of 112.5 megawatts. The lost hydropower plants combined could amount to nearly $200 million, all of which were privately owned.