Karen Darbinyan, Chairman (left) and Karen Harutunyan, General Director (right) receiving an award from CFI.co[/caption]
Electric Networks of Armenia was created in 2002 from the merger of four regional state companies to unite distribution and sales in the sector. The company provides electricity to more than a million customers, and its grid covers 36,000 kilometers. In 2016, ENA began a $726m reconstruction and modernization program, on target for completion in 2027. The investment is to update and improve existing substations and powerlines, replace outdated equipment, and expand the automated reading system. It also includes the connection of new customers. There is full compliance with the European Bank for Reconstruction and Development’s (EBRD) standards, and is meticulous in its maintenance of oil storage to prevent pollution. It strictly enforces biodiversity conversation, and embraces sustainable management: development and environmental issues must be addresses without compromising future generations. Corporate Social Responsibility is taken seriously, and ENA designs and implements targeted social programs with local communities and NGOs. From funding a medical diagnostics lab and helping orphanages to supporting local cultural events, the company plays an active role in the community. ENA offers its staff a comprehensive social package, including professional development and training. The judges took these factors into account before awarding Electric Networks of Armenia the 2019 award for Best ESG Energy Provider (Caucasus).