Inter RAO

Inter RAO intends to purchase a license from GE to localize production of large gas turbines (185-195 MW) in Russia, with a potential cost of $250 million plus royalties.

Inter RAO plans to acquire an additional 25% stake in Russian Gas Turbines (RGT), a joint venture with GE, from United Engine Corporation (ODK, part of Rostec), increasing its share to 50%. The deal is in early discussion stages.

Construction has started on a gas turbine plant near Rybinsk, Yaroslavl region, by the joint venture Russian Gas Turbines (GE 50%, Inter RAO 25%, Rostec 25%). The plant will produce GE 6FA gas turbines with an initial capacity of 14 units per year, with investments of RUB 5 billion.

Construction began on a plant in Rybinsk, Yaroslavl Oblast, to produce GE 6FA gas turbine units. The plant is a joint venture between GE (50%), Inter RAO (25%), and Rostec (25%), with investment of 5 billion rubles. Commissioning is planned for Q2 2014.

General Electric, Inter RAO and Rostekhnologii signed a framework agreement to create two joint ventures, one for power equipment and one for medical equipment. In the energy JV, Rostekhnologii and Inter RAO will each hold 25%, GE 50%. Production of gas turbines will be located in Rybinsk, with construction planned to start in early 2011. Total financing of projects under the JV is planned at €2-9 billion for 2011-2018.

A groundbreaking ceremony was held for a new plant to produce General Electric 6FA gas turbine units near Rybinsk, Yaroslavl Oblast, by the joint venture Russkie Gazovye Turbiny. The plant is expected to start operations in Q2 2014 with an initial capacity of 14 units per year, with investments of 5 billion rubles.

Inter RAO Group acquired a 33% stake in Russian power equipment holding Invent for 3 billion rubles, gaining entry into the electrical grid equipment market.