[lbo-talk] Russian moves in Caspian power

[Chris Doss]

RUSSIAN MOVES IN CAUCASUS ENERGY AND POWER SECTORS COULD HAVE GEOPOLITICAL 
IMPACT
Haroutiun Khachatrian: 9/25/03
An acquisition binge has put a Russian company in position to dominate 
potential Caucasus power exports. At the same time, the business moves can 
enhance the Kremlin’s ability to project its political power in the region.
The Russian expansion into the Caucasus, led by the state-controlled 
electric company RAO Unified Energy Systems (UES), has accelerated in recent 
months. Of late, the chief acquisition target has been Armenia. Two recent 
debt-for-equity swaps left nearly a 50 percent stake in Armenia’s 
electricity generation capacity in Russian hands. Among the entities now 
under Russian corporate control are the 1100-megawatt Hrazdan thermal power 
plant and six hydropower stations, totaling 556 megawatts, on the so-called 
Sevan-Hrazdan cascade.

http://www.eurasianet.org/departments/business/articles/eav092503.shtml

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