En+ Acquires Angara HPP Cascade Dams From RusHydro
Moscow, November 18, 2016– EuroSibEnergo (ESE), part of En+ Group, completed acquisition of five dams of the Angara HPP cascade from RusHydro – the Bratsk HPP right and left bank dams, the Ust-Ilimsk HPP dam and the Irkutsk HPP right and left bank dams.
The purchased dams is a part of the technological complex of the ESE’s hydro power plants located on the River Angara. Previously ESE rented the dams from RusHydro.
The dams were bought by the ESE’s subsidiary Telmamskaya HPP for RUB9,280 mln (plus VAT of RUB1,670 mln), based on an independent estimate of the dams’ market value provided by KPMG. The transaction was financed with a loan from VTB and Sberbank.
“The acquisition of the dams drew the bottom line under consolidation of the ESE’s main assets, which enables us to have a single HPP technology and asset package, to boost the upgrade, to ramp up reliability and efficiency”, ESE’s CEO Vyacheslav Solomin commented.
About the companies:
EuroSibEnergo JSC (www.eurosib.ru) — is Russia's largest independent power company and one of the Russia’s clean energy generation leaders. ESE operates power plants with a total installed capacity of 19.6GW, including 15GW from large hydropower plants of the Angara-Yenisei cascade (Krasnoyarsk, Bratsk, Ust-Ilimsk, Irkutsk HPPs). ESE provides about 8% of the Russia’s electricity. ESE launched the Abakan solar power plant, one of the Siberia’s largest plants of its type, in December 2015.
PJSC “RusHydro” (www.rushydro.ru) - is one of the Russia’s largest state-owned energy holdings uniting over 90 renewable energy generation facilities, Russia and foreign-based. The installed capacity of the RusHydro power plants totals 38.7 GW, incl. the facilities of RAO Energy System of the East and the Boguchanskaya HPP.