The head of Russia's electricity monopoly said Monday the company has approved a list of eight generating companies for additional share issues

Sunday, January 17, 2021

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Anatoly Chubais said he had recently signed the necessary documents, and that investment projects for the companies included the construction of 7,000 Mw power plants. "This is more than Russia has acquired in the past ten years," he said. Chubais also said Unified Energy System was planning to triple investments in the electricity industry from the current $4.5 billion to $15 billion in three years. Chubais said the necessity for additional investment was obvious, adding that UES had requested 160 million rubles ($5.8 million) for the development of the sector from the government. "This investment will allow the state to acquire a 75% stake in power grids," he said. Share issues, guaranteed investments, equity, loans and direct private investments were key ways to attract investment, Chubais said. "Structural reform of the electricity industry has almost been completed," he said, adding that major investments would be the last stage.