The Sevan-Hrazdan Cascade in Armenia generated 475MkWh of hydroelectricity in the first nine months of this year, unchanged as compared with the same period in 2004, according to the Interfax news agency.

Full-year production this year is expected to reach 510MkWh, as compared with 532.5MkWh in 2004.

Armenia’s public services commission is considering a request by the International Energy Corporation (IEC) to acquire a US$24M loan from Germany’s KfW bank for the modernisation of the Yerevan hydro electric pant, which is part of the Sevan-Hrazdan Cascade.

The IEC, which is part of Russia’s Unified Energy Systems (UES), must receive permission from the public services commission to receive the loan under Armenia’s energy legislation.

The IEC was established in May 2003 to operate the Sevan-Hrazdan Cascade. The Cascade, which has a total installed capacity of 556MW, comprises six hydroelectric power plants built in the 1930-1962 period.