T Plus to work with Power Machines on turbine contract, not planning to abandon CSA projects

MOSCOW. May 25 (Interfax) - PJSC T Plus plans to start working with Power Machines on a contract to supply turbines for power plant modernization projects, the Russian power company's CEO, Alexander Vilesov told reporters.

"We will now work together on a turbine supply contract for our facilities," Vilesov said.

He said T Plus representatives visited Power Machines' plant last week and noted positive changes in terms of technology and new facilities. "This is not at all the same plant that existed a year to 18 months ago," Vilesov said.

Nonetheless, realistically facilities with new turbines will only go into operation in the middle of 2029 "at best," he said.

"We have a deadline to launch a facility on April 1, 2028. But since this tender is innovative, there is a long period when the machine can be refined. It amounts to three years," Vilesov said.

T Plus plans to build to generating units using Russian gas turbines at the Saratovskaya TETs-2 (115 MW) and Permskaya TETs-14 (105 MW) power plants under the capacity supply agreement (CSA) program. Power Machines is the technology partner.

Vilesov said T Plus does not plan to abandon modernization projects and is currently intent on developing cogeneration within the context of CSA. "For us, refusal would mean that we are leaving the electricity market and somehow covering the retiring equipment with heat," he said.

T Plus (known as KES Holding until June 2015) is a private company that combined the power generating assets of billionaire Viktor Vekselberg's Renova Group. It also includes gas and utility assets. Entities owned by Vekselberg reduced their stake in T Plus to 39.59% from 57.1% in September 2018.