30.11 Ministry of Energy needs 35 billion rubles for Far Eastern Federal District power grids: Novak

MOSCOW, November 27 – Prime Business News Agency. The Russian Ministry of Energy has requested 35 billion rubles from the National Welfare Fund for RusHydro to develop the Far Eastern power grid network, Minister of Energy Alexander Novak said.

“This funding will go towards the development of the Far Eastern power grid network,” Novak said, while replying to journalists’ questions.

“The Far Eastern power grid network is a separate network that requires investment … There are plans to allocate funding for the development of these power grids,” he said.

Last year, the Russian Government increased RusHydro capitalization by 50 billion rubles for the company to build four new heat-generation facilities, including the first stage of the Sakhalin state regional power station No 2, a thermal power station in Sovetskaya Gavan, the second stage of the Blagoveshchensk thermal power station, and the first stage of the Yakutian state district power station No 2.
In early November 2013, sources said the Ministry of Energy requested 35.3 billion rubles from the National Welfare Fund. In turn, top managers of RAO ES, a RusHydro subsidiary, said it was possible to allocate National Welfare Fund assets for building flood-prevention hydropower stations and restructuring Far Eastern Generating Company debts.