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Inter RAO Group acquires a number of large construction and engineering companies

19 May 2021

Inter RAO Group has closed deals to acquire a 100% interest in the charter capital of 11 large construction and engineering companies providing services for power industry and utilities sector entities.

Acquisition of these assets will allow the Group to improve its control over reliability, quality, deadlines, and prime costs while implementing large-scale projects for construction of power facilities, create major industry players with high reputation, enter new markets, and broaden the range of products and services. In addition, the deals reach synergies with existing assets of the Inter RAO Group and will generate new competences in power industry and related sectors through providing services to external customers.

The acquired companies serve as general contractors for designing, electrical, construction, repair, and commissioning works, design and arrange the installation of automated meter reading and control systems (AMRCS), and supply equipment to large power, power grid, water supply and heat transfer facilities.

In 2020, the Board of Directors of Inter RAO approved the Development Strategy of Inter RAO Group for a period up to 2025 with an outlook for 2030. The Strategy provides for more than the twofold growth of revenues and EBITDA by 2030 as compared to 2019, due to development of existing assets in the Group perimeter, as well as acquisition of new assets and diversification of business. To implement the strategy, it is planned to invest up to RUB 1 trillion, and the significant part of these investments will be focused on construction of new large-scale projects and modernization of existing facilities.

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Inter RAO Group acquires IT company Sigma
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Reference

Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 30.8 GW of installed power generation capacity.

www.interrao.ru