En+ not in talks to sell coal assets, focused on their modernization

MOSCOW. June 22 (Interfax) - En+ Group is not currently in talks to sell its coal-fired thermal power plants, Mikhail Khardikov, head of the company's energy business, told Interfax.

"We are engaged in the development of these enterprises, our heating business. At the moment, we do not have any active intentions or discussions of strategic options pertaining to their sale," he said.

En+ is focused on the primary production activities of these assets, which include preparations for the autumn and winter period, and implementation of modernization projects, Khardikov noted.

The company is also maintaining its intentions to switch coal-fired thermal power plants to gas as part of the comprehensive matter of gasification of the Krasnoyarsk Territory and Irkutsk Region.

"We carried out a preliminary assessment. There are forks in the road depending on the design solutions," Khardikov said in commenting on the cost of transferring TPPs to gas, adding that exact figures can be prepared after understanding the timeframe of gasification of the regions.

In 2020, Irkutskenergo (part of En+) was reorganized, which resulted in the transfer of all coal-fired thermal power plants to its 100%-owned subsidiary, Baikal Energy Company. Previously, En+ did not rule out the sale of these assets.