Financing of Rosseti investments in 2023-2024 to top 1 trln rubles

VLADIVOSTOK. Sept 13 (Interfax) - Financing for the Rosseti investment program for this year and next year will exceed 1 trillion rubles, CEO Andrey Ryumin told reporters on the sidelines of the Eastern Economic Forum.

This amount will cover both mainline and distribution complex projects, as well as investments of subsidiaries. "Not everything is covered by our own funds or rate sources, the company is raising some debt," he said.

According to Ryumin, the ratio of debt to EBITDA for the trunk complex at the end of last year amounted to 2.5x.

Earlier, the company's draft annual report noted that financing of the consolidated investment program for 2023-2024 would amount to 992 billion rubles, of which 557 billion rubles would be allocated directly to the trunk complex.

Last year, Rosseti investment program financing reached a record of 435 billion rubles, Ryumin said earlier. According to the draft annual report, FGC accounted for 236.9 billion rubles of this amount.

At the beginning of the year, the reorganization of the grid holding company was completed, in the course of which the former FGC UES [which managed trunk grids] was merged with its parent company PJSC Rosseti, as well as JSC DVEUK-ENES, JSC Tomsk Trunk Grids and JSC Kuban Trunk Grids. After the reorganization, the Russian government's share in the company's capital is at least 75% plus 1 share.