TGK-2 net losses soar 135% to 1.2 bln rubles in Q3
MOSCOW. Oct 27 (Interfax) - Thermal energy generating company OJSC TGK-2 completed a typically loss-making third quarter this year with net losses of 1.212 billion rubles, a 135% increase over 515.9 million rubles in Q3 2010 losses, the company said in a statement
Compared with Q2, TGK-2's Q3 losses were up almost 150%, which the company attributes to the season.
For Q1-Q3, the genco's losses amounted to 697 million rubles (including H1 profits of 515 million rubles), which was 160% more year-on-year.
TGK-2 has generating outfits in six Russian regions: Arkhangelsk, Vologda, Kostroma, Novgorod, Tver, and Yaroslavl Regions. Combined installed electric power capacity is 2,582.5 mWt, that of thermal energy - 12,473 gCal. The company's main shareholder is the group Sintez, with a 44.72% stake in TGK-2 capital.