24 Feb 2010 15:52

IES could invest up to 24 bln rubles in new power capacity in 2010

MOSCOW. Feb 24 (Interfax) - Viktor Vekselberg's IES Holding plans to invest 22 billion-24 billion rubles in new generating capacity in 2010, the company's press office told Interfax.

IES, which was one of the power companies that Russian Prime Minister Vladimir Putin criticized earlier on Wednesday for not honoring their investment commitments in their entirety, is scheduling something like 165 billion rubles of investment to 2015, and aims to put over 3,000 megawatts of new capacity in place by then, the company said.

IES controls four territorial generating companies: TGK-5 , TGK-6 , TGK-7 and TGK-9 (RTS TGKI).

It said it had decided to adjust the timing and location of some of its investment projects. "The changes were cleared with the System Operator and have been submitted to the Energy Ministry for approval," IES said.

IES Holding's gencos have 15,767 megawatts of installed capacity for electricity and 67,799 Gcal/h heat.

This year's projects include modernizing the Sormovo and Samara combined heat and power plants, increasing the capacity of each by 10 megawatts, however most investment in 2010 will go towards augmenting capacity or upgrading the Kirov #3, Novokuibyshev #1, Syzran, Perm #6 and Perm #3 CHP plants.