Company Owned by Business Partner of Armenian President's Nephew to Build Hydro Plant in Vayots Dzor
A company owned by the business partner of Narek Sargsyan, the nephew of Armenian President Serzh Sargsyan, is set to build a small hydro plant in a section of the gravity irrigation network in Vayots Dzor Province.
The Gornar hydro plant is being built by Green Energy Concern Ltd., founded in October 2015.
Green Energy is owned by Grigor Arakelyan, who owns 50% in a company called Mina-Miya Ltd. Narek Sargsyan owns the other 50%
Mina-Maya Ltd. owns and operates the Yeghegnadzor and Yeghegnadzor SHPP-1 hydro plants on the Yeghegis River in Armenia’s Vayots Dzor province.
(Narek Sargsyan is the son of Levon Sargsyan, Serzh Sargsyan’s brother)