OREANDA-NEWS. December 12, 2012. Federal Grid announces that the Russian Ministry of Energy has approved the Company’s 2013-2017 investment program (Order #531, dated October 31st, 2012) in the total sum of RUR 775.5 billion (including VAT).

The program provides for putting 66,870 MVA of transformer capacity and 16,985 km of transmission lines into operation. It is focused on resolving the following priority tasks:

UNEG development to provide for reliable operations;

Renovation of the Company’s grid assets;

Implementation of electric grid projects that are of State importance (the 2014 Sochi Olympic Games – 2014, the ESPO pipeline, the Skolkovo Innovation Center and upgrading power supply reliability for Moscow and St. Petersburg, etc);

Implementation of agreements concluded with regional administrations to supply electric energy to consumers;

Launch of units’ power output;

Implementation of innovative projects and energy efficiency programs;

Creation of technological infrastructure to ensure functioning of the competitive electric energy and power market.

The investment program will be financed out of Federal Grid’s own funds, loans and borrowings, as well as from the federal budget.

The program provides for an even distribution of investment expenses across a 5-year period; it will allow the Company to maintain a balanced structure of financing sources.

In the near-term, the program will be considered by Federal Grid’s Board of Directors.