OREANDA-NEWS  On 25 September was announced, that "Power Development" Division was created and recently started operating at IES-Holding as part of new business model implementation. This division is headed by Executive Vice President of IES-Holding Igor Golubev.

"The Division's key objective is efficient implementation of investment projects in the four TGCs controlled by IES", - emphasized Mr Golubev. He said that that fulfillment of obligations under investment agreements in full is a top priority task for IES. Besides, the company is going to increase its share in the Russian generation by putting new generation facilities in operation. "The strategy of IES includes development of generation facilities at rates that will enable the Holding to stay among the five largest electric power producers in Russia", - says Igor Golubev.

Investment programs of TGC-5, TGC-6, TGC-7 and TGC-9, which are controlled by the Holding, provide for construction of new generation facilities exceeding in total 3GW. Under the investment program IES plans to implement 18 projects in seven Russian regions.

"Power Development" Division functions include selection of contractors for implementation of the investment program, conclusion of contracts, monitoring construction progresses and acceptance of new facilities. Capital Development Administrations (CDA) in Nizhny Novgorod, Perm, Yekaterinburg, and Kirov were created to exercise control over implementation of TGC investment programs. Groups of Facilities under Construction (GFC) will be created at power plants where new facilities will be constructed for the time of implementation of each particular investment project.

The decision to introduce a new business model in IES-Holding was taken in February 2008. This model includes generation (production of electric energy and heat, heat network), trading, retail (retail sale of electric energy, heat energy, gas), and construction of new generation facilities. Along with "Power Development" Division, "Generation Urals", "Central Generation" and "Trading" Divisions have been created within the Holding.