OREANDA-NEWS. Today, OAO "Fifth Generation Company of Wholesale Electricity Market" (OAO "WGC-5") announced its intention to issue additional shares. The issue proceeds will be used to finance the company's top priority investment projects.

RAO "UES of Russia" holds a majority stake (87.67%) in OAO "WGC-5".

After the share placing, which was registered with the Federal Service for Financial Markets of Russia (FSFM) on 28 September 2006, RAO "UES of Russia" will hold at least 75.03% in OAO "WGC-5". RAO "UES of Russia" does not plan to acquire any additional shares, stating that it would waive its right of first refusal to purchase such shares.

OAO "WGC-5" comprises the Konakovskaya TPP, Nevinnomysskaya TPP, Reftinskaya TPP, and Sredneuralskaya TPP.