IES-holding: Industry News

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03.06.2008
Russian Power Industry Modernization May be Jeopardized Unless the Power Market Is Launched from July 1

18.02.2008
HydroWGC to Enter Indian Rivers

OJSC HydroWGC and India’s SUN Group intend to construct several hydropower plants in India. HydroWGC is going to approve the development strategy of its joint venture with SUN in the second quarter of this year. Both companies view construction of hydropower plants in India as a promising undertaking; however, experts warn that it may take up to 20 years before these plants break even.

18.02.2008
Enel Gets Control

The Italian company Enel has consolidated a controlling interest in the WGC-5 generation company. Preliminary results of the offer show that the company has managed to increase its stake by 15.74% having paid over RUR 24.65 billion. According to analysts, Enel owes this outcome to minority shareholders, who deemed it advantageous to leave WGC-5’s equity in time of crisis.

13.02.2008
Network estimates have been lowered

The integration of the capital region network companies continues, in spite of opposition from “Gasprom”. Yesterday the specialized committee from the Board of Directors of RAO UES of Russia has approved the re-evaluation of Moscow United Power Grid Company and Moscow City Power Grid Company (MCPGC) for their consolidation. The absolute value of MUPGC and MCPGC shares has been lowered; the portion of each company in the created structure is more accurate, note the analysts.

11.02.2008
Russia’s Government Rules to Discharge State-Owned Corporate Interest from RAO UES Books Prior to Its Winding-Up

The Government of the Russian Federation has issued an instruction that the state-owned stakes in the businesses currently managed by the energy holding company be discharged from its books prior to its winding-up scheduled for the coming summer, the cabinet of ministers’ press service reported on Friday.

07.02.2008
‘We Will Be Forming a Powerful Unit for Management of State Property’

A new head of the Federal Energy Agency (Rosenergo) was appointed in late November. After the RAO UES of Russia reorganisation in July, the agency is to undertake part of the holding company’s functions and simultaneously continue work in the coal, gas, and oil industries. In his first interview as head of the agency, Dmitry Akhanov told Kommersant what Rosenergo will now be responsible for and what matters power companies, now private ones, will have to finalise with it.

05.02.2008
RAO UES Management Board to Approve Investment Programme to 2012 in Late February

At a meeting in late February, the RAO UES of Russia Management Board intends to approve the holding company’s investment programme to 2012, Vyacheslav Sinyugin, chairman of the management board of OJSC Federal Hydropower Generating Company (FHGC), said during a telephone conference.

05.02.2008
Inter RAO Drawn to Asia

The Russian operator in electricity exports and imports Inter RAO which has never before evinced any interest in privatizing Uzbek thermoelectric power plants has offered Tashkent to purchase 48% of shares of the major Syr Darya TPP. The company intends to purchase the stake without being involved in a tender and invest $170 million in an upgrade within five years. Analysts believe that if the talks succeed the purchase of this power plant powerful by regional standards will enable Inter RAO to gain a strong position in the Middle Asian power market.

04.02.2008
Government Abandoning Independent Power Companies

The government has allowed RAO UES of Russia to sell the holding company’s interests in OJSC Novosibirskenergo and OJSC Bashkirenergo. The auction for the first company will occur as soon as February 28. The stakes being sold are rather small, but experts believe that they will be in demand, primarily from Russian buyers.

04.02.2008
Legacy of RAO UES Strategy

The Russian Government is scheduled to consider in January a new power facilities general layout plan for the period from 2010 to 2020 prepared by the Industry and Energy Ministry in cooperation with RAO UES of Russia. The plan provides for a 1.52-time increase in power consumption during that period. Required investments for the power industry till the year 2020 are estimated at RUR 10.5 13.5 trillion.