Hrazdan Energy Company (RazTES)

The Hrazdan Energy Company was established as an open joint stock company in compliance with Decree No. 291 of the Federal Agency on Management of Federal Property of the Russian Federation, dated September 1, 2004.

The Company was formed by combining the physical assets of the Hrazdan Thermal Power Plant with the statuary capital of the Company, which Armenia transferred to the Russian Federation as a means of satisfying certain state debts.