TNK-BP looking for partners to develop captive power generation
MOSCOW. June 27. (Interfax) - TNK-BP is ready to attract partners to develop captive power generation, the company said in a press release.
"TNK-BP is organizing a special conference for potential partners and investors on July 11, 2012. At the conference, TNK-BP will present its captive power generation development plan to future contractors and discuss with them preferable conditions and terms of business partnership and the guarantees offered by TNK-BP for ensuring efficient interaction and cooperation," it said.
TNK-BP is planning to create a joint power generation venture and is already negotiating with a number of companies, including Inter RAO UES , Technopromexport and Summa Group. TNK-BP is ready to provide its partner with 75% in the joint venture, as well as to provide gas supplies and guarantee energy sales.
"By 2020, TNK-BP will invest between $1.2 billion and $3 billion in construction of captive power plants with an overall capacity of 550-1,800 MW according to the situation on the market. Invitation and participation of partners is seen as a key way to reduce the cost of these projects," the press release said.
