PÖYRY PLC   Press Release 16 February 2018 at 10.00 (EET) 

Debed Hydro LLC has awarded Pöyry with the engineering services and consultancy services assignment for the feasibility study for Shnogh Hydroelectric Project in the Republic of Armenia. The Shnogh Project is located along the Debed river in northern Armenia close to the Georgian border.  

The Shnogh project is a run-of-river plant which harnesses the water from the Debed and Martsiget rivers, which will be dammed behind a 25m high concrete weir, and conveyed to the powerhouse along a long free-flow tunnel (19 km), a pressure shaft (230m), and a high pressure tunnel. The two turbines with capacity of 70 MW will be housed in a surface powerhouse located on the bank of the Debed River, in the vicinity of Neghots village. 

Pöyry's assignment includes the review of existing documents and the basic studies, feasibility design of the selected alternatives, construction schedule, bill of quantities, cost estimate, economic evaluation and executive summary.  

The investment project will be implemented by the Energy Invest Holding CJSC via its newly created subsidiary company which will construct and operate the plant, the Debed Hydro LLC. The Investors Club of Armenia investment fund will co-invest 15% of the required investment amount into this project.  

"Delivering clean, renewable energy projects in this region further strengthens Pöyry's position as one of the world's leading hydropower engineering consultancies. Armenia is an important country for hydropower development and we look forward to sharing our expertise in future projects," says Richard Pinnock, President of Pöyry's Energy Business Group. 

The value of the order is not disclosed. The order will be recognised within the Energy Business Group order stock in H1/2018. 

Additional information: 

Martin Aemmer 
Head of Hydropower Switzerland
Tel. +41 44 355 5555 

Armineh Avanessian 
Business Area Manager, Iran and Armenia
Tel. +98 21 22040125 

Did you know? Pöyry is involved in hydropower projects with a total installed capacity of over 100 GW worldwide. 

About Pöyry

Pöyry is an international consulting and engineering company.  We serve clients across power generation, transmission & distribution, forest industry, biorefining & chemicals, mining & metals, infrastructure and water & environment. Together, we deliver smart solutions and work with the latest digital innovations. Pöyry's net sales in 2017 were EUR 522 million. The company's shares are quoted on Nasdaq Helsinki. Approximately 5500 experts. 40 countries. 115 offices.

Visit our website at www.poyry.com and follow us on Twitter | LinkedIn | Facebook | YouTube