80
The list of the Issuer’s competitiveness factors with a description of their degree of influence, in the
Issuer’s opinion, on the competitiveness of products (works, services):
1. Environmental friendliness. Hydro resources are renewable and the most ecological source of energy,
the use of which makes it possible to cut discharges into the atmosphere by thermal electrical power plants and to
preserve hydrocarbon reserves.
2. A high degree of manoeuvrability because it is HPPs that are the most manoeuvrable and capable, if
necessary, of substantially increasing the volumes produced in just a few minutes covering peak loads.
3. Absence of a fuel component in production cost, independence from changes in prices for energy
sources and, as
a consequence, the possibility of long-term price guarantees for consumers.
The Issuer's analogue company abroad:
No.
Company
Installed capacity, MW
1
China Three Gorges Corporation (China)
64 540
2
Eletrobras (Brazil)
44 156
3
Hydro-Québec (Canada)
36 912
4
United States Corps of Engineers (USCE) (USA)
20 475
5
Statkraft (Norway)
18 471
6
Edelca (Venezuela)
15 420
7
US
Bureau of Reclamation
14 722
8
BC Hydro (Canada)
12 568
There are a number of generation companies in the world of which capacities are based on hydro power
plants.
1. China Three Gorges Corporation (China) – 64 540 MW is the largest hydro generation company in the
world. The largest HPP are Three Gorges 22 500 MW, Xiluodu 13 860MW, Xiangjiaba 6400 MW, Gezhouba (2
735 MW)... The company is in 100 % state property.
2. Brazilian Eletrobras (44 156 MW) is the second largest hydro generation company in the world. At the
same time, it is the largest generation company of Brazil and Latin America. Its assets include a number of large
HPPs, including Itaipu HPP at the Parana River 14 000 MW, the second in terms of capacity in the world. The
company is controlled by the state, which holds 54 % of its shares.
3. Canadian Hydro-Québec (36,912 MW), the largest generation company of Canada, which played a
great role in the economic development of the Province of Quebec. The company's assets include a great number
of HPPs, including large cascades at the Manicouagan and La Grande rivers. The company is held by authorities
of the Province of Quebec.
4. The United States Corps of Engineers (USCE) - 20 475 MW. It is not an energy company in the truest
sense of the word, but a state office engaged in construction and operation of HPPs (electricity is sold by other
state structures).
5. Norwegian Statkraft — 18 471 MW. It is the largest energy producer in Norway and the third in
Scandinavia. About 150 HPPs are held by the company, the majority with storage reservoirs for multi-annual
regulation. The company is a 100 % state company.
6. Venezuela Edelca - 15 420 MW. The main asset of the company is Guri HPP on the Caroni River, with
a capacity of 10.2 GW, which is third in the world in terms of capacity. The company ensures the majority of the
power supply of Venezuela and is fully controlled by the state.
7. The US Bureau of Reclamation - 14 722 MW. Again, it is not an energy company in traditional sense,
but
it operates a variety of HPPs, including the famous Hoover Dam.
8. Canadian BC Hydro - 12 568 MW, the largest electricity producer in the province of British Columbia.
The company holds 30 HPPs, and the company is held by authorities of the province.
Issuer's competitors on the Electrical Power Market of Armenia
In 2011, PJSC RusHydro acquired 90 % of the shares of Sevano-Razdanskiy Cascade of HPPs with a
total capacity of 562 MW of installed capacity in the Republic of Armenia. Thereby, in entering the electrical
power market of Armenia, PJSC RusHydro has occupied a substantial share of that market.
The Issuer's competitors in Armenia.
Generation object
Type
Installed capacity,
MW
Generating companies
Parent
company
Vorotanskiy Cascade of
HPPs
НРР
404
CJSC Vorotanskiy Cascade of
HPPs
Contour Global (USA)