Over Five Energy Firms Eye ENA Concession, Interim Head Says

More than five international energy companies want to run Electric Networks of Armenia (ENA) under a concession, the utility's state-appointed interim manager, Romanos Petrosyan, said in a Factor TV interview reported by ARKA on 5 October 2026. He did not name them, saying the information was confidential and details would follow. ARKA repeated the claim in its weekly digest on 12 October.

The remarks matter because a concession would decide who invests in Armenia's power distribution grid, which serves about 1 million subscribers on medium and low voltage networks, and on what terms. Before that can happen, the state must finish taking ownership of the company under a draft timetable that runs to October 2027.

What Petrosyan said

"More than five strategic energy corporations are interested in securing concession management of Electric Networks of Armenia (ENA). They are prepared to negotiate with the government and submit their proposals," Petrosyan said, according to ARKA. Once the company is registered as state property and 100% of its shares are formally designated as such, the legal grounds will exist to transfer management to international energy corporations, he added.

The claim is not new. In November 2025, Petrosyan said several major Western energy firms had expressed interest in managing the network, CivilNet reported. None has been publicly identified.

The nationalisation timetable

The Ministry of Territorial Administration and Infrastructure has put up for public discussion a draft government decision to designate 100% of ENA's shares as an object of overriding public interest. Under the draft, 1 May 2027 is the deadline for starting the alienation process and 1 October 2027 the deadline for completing it, ARKA reported. Petrosyan said the designation itself would not complete the nationalisation, which requires further technical and institutional steps.

The government has described two options: full state ownership with professional management, or transfer of a controlling stake to an internationally reputable operator while the state keeps a strategic share, OC Media reported. In January 2026, Prime Minister Nikol Pashinyan said: "If that value is affordable for the state budget, we will fully nationalize it and place it under accredited management by a highly professional company or group of companies," according to CivilNet.

How the state took control

ENA has been owned since 2016 by Tashir Group, whose president, Samvel Karapetyan, was arrested on 18 June 2025 and initially charged with publicly calling for a seizure of power after statements supporting the Armenian Apostolic Church. He was later also charged with tax evasion, embezzlement, money laundering and illegal entrepreneurship; he denies guilt and his defence says the case is politically motivated, ARKA reported. Parliament passed amendments allowing state intervention in ENA's management on 3 July 2025, and Petrosyan has run the company since 18 July 2025. In November 2025 the Public Services Regulatory Commission voted to revoke ENA's distribution licence, OC Media reported.

Tashir Group disputes the takeover. It has started international arbitration seeking hundreds of millions of dollars over what it calls unlawful interference, OC Media reported, and in July 2025 an emergency ruling under the Arbitration Institute of the Stockholm Chamber of Commerce ordered Armenia to halt steps toward expropriation, EU Reporter reported. The prime minister's office said then that Petrosyan's appointment fell outside that ruling. According to ARKA, Tashir Group has invested about $680 million in modernising ENA since 2016. Russian officials have also criticised Yerevan's handling of the case, as CBJ reported in September.

ENA is also talking to local lenders. On 8 October, Petrosyan met Ineco Group and Inecobank executives to discuss financing for the company during the nationalisation, according to an ENA statement carried by Armenpress.

What to watch

• Adoption of the public interest decision and the compensation figure set for Tashir Group.
• Whether the government names the interested companies and runs an open tender for the concession.
• The progress of the Stockholm arbitration and any award against Armenia.
• Tariff and investment commitments demanded of any future operator.

Sources: ARKA, 5 October 2026; ARKA weekly digest, 12 October 2026; ARKA, 6 August 2026; CivilNet, 29 January 2026; OC Media, 3 March 2026; EU Reporter, 25 July 2025; Armenpress, 8 October 2026