T Plus mulling TAIF generating assets acquisition
MOSCOW. Nov 30 (Interfax) - T Plus is interested in buying the TGK-16 generating company from the TAIF petrochemical holding, Andrei Vagner, the general director of T Plus, told the Kommersant newspaper.
""Yes, we are looking in this direction. There are no decisions yet. TGK-16 is gas powered thermal plants. We know how to make money from heat, so a new region would be an advantage for us. It's a question of the price," Vagner said.
SIBUR is thinking of selling the TGK-16 generating company, which it consolidated in October 21 together with other assets of the TAIF Group, several sources with knowledge of the situation told Interfax on November 10. The company itself confirmed this for Interfax.
"We see interest in the asset from potential buyers and at the moment we are not ruling out transferring some energy infrastructure to a specialized investor with clear experience of successful interaction with SIBUR for the further development of TGK-16 as a wholesale electricity and capacity market participant," the SIBUR spokesperson said. "Given the high degree of integration of TGK-16 into business assets in Tatarstan, the company is now focused on assessing possible scenarios and conditions for formalizing relations with TGK-16 in the event the asset leaves the perimeter, and determining its possible fair value," the spokesperson said.
TGK-16 has installed capacity of 1,669.6 MW for heat and 6,136 Gcal/h for heat, according to its website. Its plants are fueled mainly by gas. The genco supplies electricity and capacity to the domestic market, and heat in the internal Russian republic of Tatarstan. It includes the Kazan CHP-3 and Nizhnekamsk combined heat and power plants.
T Plus, known as IES Holding until June 2015, is a private electricity and heat provider that brings together the generating assets of Viktor Vekselberg's Renova Group and gas and utilities assets. In September 2018, the share of companies that belong to Vekselberg in T Plus's equity capital fell from 57.1% to 39.59%.