OREANDA-NEWS. June 28, 2007.  The Board of Directors of Generation Company Four of the Wholesale Power Market (OGK-4) considered the issues related to the implementation of the investment program of construction of new generating capacities at the company’s power plants. The Board of Directors approved significant conditions of implementation of investment projects, their implementation, and financing schedules.

The investment program of OGK-4 for the period up to 2011 provides for construction of combined-cycle-based replacement capacities at Surgutskaya GRES, Shaturskaya and Yayvinskaya GRESes, and completion of the construction of the third steam-power cycle-based power unit of Berezovskaya GRES. The total volume of the commissioned capacities is 2,400 MW; the investment program implementation value is about 76 billion rubles. The investment program will be financed from own and borrowed funds and funds from issue of additional shares.

The commissioning of the CCGT-400-based power unit at the Shaturskaya GRES Branch of OGK-4 is scheduled for Q4 2009. The estimated project costs (money of the day) are equal to 14,999.2 million rubles (inclusive of VAT).

The commissioning of two CCGT-400-based power units with a total capacity of 800MW at the Surgutskaya GRES Branch of OGK-4 is scheduled for Q4 2009. The estimated project costs (money of the day) are equal to 30,694.5 million rubles (inclusive of VAT).

The commissioning of the CCGT-400-based power unit with a capacity of 400 MW at the Yayvinskaya GRES Branch of OGK-4 is scheduled for Q4 2010. The estimated project costs (money of the day) are equal to 15,927.9 million rubles (inclusive of VAT).

The commissioning of the SPP-800-based power unit with a capacity of 800 MW at the Berezovskaya GRES Branch of OGK-4 is scheduled for Q4 2009. The estimated project costs (money of the day) are equal to 14,386.9 million rubles (inclusive of VAT).

The Board of Directors of OGK-4 also took into account the conditions precedent of the implementation of the investment project of construction of the fourth SPP-800-based power unit with a capacity of 800 MW at the Berezovskaya GRES Branch. According to preliminary data, the estimated project costs (money of the day) are equal to 36,999.1 million rubles (inclusive of VAT). It is expected that the business plan of the investment project of construction of the fourth power unit of Berezovskaya GRES will be submitted to the Chairman of the Board of Directors of OGK-4 prior to August 1, 2007.

The OGK-4 power plants, where construction of new generating capacities is scheduled, are located in the regions characterized of vigorously growing power consumption. The investment project of construction of combined-cycle power units at Surgutskaya GRES-2 and Shaturskaya GRES are included into the List of Priority Sites for Commissioning of Generating Capacities in the Unified Energy System of Russia.