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IEC Hydropower Rehabilitation
The EBRD is considering providing financing to JSC International Energy Corporation (IEC) to rehabilitate its existing hydropower plants (the Project). The Project would upgrade outdated equipment and improve the capacity, reliability and efficiency of the 7 hydropower plants which comprise the Sevan Hrazdan cascade, thus increasing the generation of sustainable energy in the Republic of Armenia.
Details of financing scheme: Long-term loan of USD 25 million to IEC