Sale of Ondsky HPP to Rusal likely not to happen - GEH chief
MOSCOW. Oct 10 (Interfax) - Gazprom Energoholding's (GEH) Ondsky hydroelectric power plant will probably not be sold to Russian Aluminum, GEH chief Denis Fyodorov told the press.
"The deal, it seems, will not come about. The market valuation [of the HPP] done by Ernst & Young does not suit Rusal. Rusal said at the latest meeting at the government that the price is not suitable and there needs to be an almost [two thirds] reduction in price," Fyodorov said.
OJSC TGK-1's Finnish stockholder Fortum has also expressed opposition to the sale, he said. The HPP operates as part of TGK-1.
Fyodorov also said that Rusal needs to strike a deal with Russian Grids on bringing electricity prices down.
TGK-1 is part of GEH. The main consumer of the power generated by the Ondsky HPP is Rusal Nadvoitsy aluminum smelter.
