OREANDA-NEWS. Within the framework of the 11th St. Petersburg International Economic Forum, the Leningrad Region Government and RAO "UES of Russia" entered into an Agreement on cooperation in implementing capital investment projects to build and modernize the region's electric power facilities during the period until 2011.
 
The Agreement is designed to improve the reliability of electricity supply to customers, enhance the network transmission capacity, create the conditions for new user connections to power grids and increase the capacity available for the existing customers, and prevent power shortages as electricity consumption grows in the Leningrad Region.

The Agreement provides that investment projects will be implemented in 2007-2010 to build and upgrade about 956 MW of generating capacity, substations of various voltages with a combined transformer capacity of 1,600 MVA, and 140 km of transmission lines in the bulk power grids, as well as substations with a transformer capacity of 3,930 MVA and 1,539 km of lines in the regional distribution system.

The amount of funds needed to finance the capital investment projects under the Agreement is estimated at RUB70,7 billion, of which RUB19,4 billion will be used to expand the generation capacity and RUB51,3 billion will be invested in the power grid infrastructure.