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Gold/Mining/Energy : Mosenergo ADR

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From: Copperfield	12/25/2005 9:29:47 PM
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Mosenergo launches ambitious programme for boosting power grid 22.12.2005, 15.28 MOSCOW, December 22 (Itar-Tass) - The Mosenergo Power Company started on Thursday implementing a programme for the development of the Moscow power system in 2006-2020. The largest territorial power generating company started building the biggest power plant in the metropolitan area on Electricians Day – the third power unit of heat and power station No. 27. Speaking at the stone-laying ceremony, head of the United Energy Systems of Russia Company Anatoly Chubais emphasized that “the country needs urgently sharp acceleration and large-scale investments into the power industry and a new energy policy”. In turn, Mosenergo managing director Anatoly Kopsov said that “construction of the third power set is the starting point for creating normal working conditions for the Moscow power industry”. First Vice-Governor of the Moscow Region Pyotr Katsev emphasized that “the authorities of the region found a common language with power companies in the recent past”. The work on building the new set has not stopped even during the ceremony, taking place at sub-zero temperatures and during a snowfall. Excavators were digging the pit 100 meters from the platform for honorary guests. The installed capacity of heat and power station No.27 is now 160 megawatts. The construction cost of the third power unit will be around 9.5 billion roubles. The project will be funded from Mosenergo profits as well as thanks to amortization and invited investments. The power unit with a capacity of 450 megawatts will supply electricity to 400,000 apartments in the Moscow metropolitan area. It will operate on the basis of latest technology of the steam-gas cycle which will ensure 51.5-percent efficiency. The high efficiency of the set will help to save up to 25 percent of fuel and will cut by a third discharges of noxious fumes into the atmosphere. The programme for development and technical retooling of the Moscow energy system in 2006-2020 presupposes construction of new sets of power stations as well as updating of the operating ones: Mosenergo generating capacities will increase from the present 10,500 megawatts to 12,500 megawatts by 2010. Incidentally, by 2020 generating capacities in the Moscow metropolitan area will rise by more than 13,000 megawatts thanks to all development programmes.

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