Rosseti investment program to total 585 bln rubles this year

MOSCOW. Feb 20 (Interfax) - The volume of financing for the investment program of Rosseti PJSC this year will total 585 billion rubles, Andrei Ryumin, Rosseti general director, told reporters.

"The approved amount of financing for the investment program of the Rosseti group is 585 billion rubles in 2024," Ryumin said.

As reported, PJSC Rosseti's investments exceeded 528 billion rubles last year. "The volume of investments in the modernization and construction of energy facilities is growing. Last year, we had a record investment program of more than 528 billion rubles. This year, most likely, we will exceed the achieved level," Ryumin told Interfax previously in response to the corresponding question.

Ryumin last year told reporters that he expects the financing of the investment program of PJSC Rosseti to be over 1 trillion rubles for 2023 and 2024.

It is expected that this amount will cover both transmission and distribution complex projects, as well as investments of subsidiaries. "Not everything is covered by its own funds, tariff sources; the company partially attracts a debt load," Ryumin said.

Financing of the investment program of the Rosseti group of companies reached 435 billion rubles in 2022.

The key project for the company remains the energy supply of Baikal-Amur Mainline (BAM) and the Trans-Siberian Railway, Eastern railway range. Rosseti previously completed the first stage projects. It was reported that the second phase facilities would be completed in 2024. One project, however, will be implemented later, Ryumin said on Tuesday. "In accordance with the comprehensive plan for the modernization and expansion of the main infrastructure [...] 220 kV transit from Komsomolsk to Vanino will be introduced in 2026," he said.