The Board of Directors of PJSC Inter RAO approved the company's strategy / long-term development program until 2025 with an outlook for 2030. The document is aimed at ensuring further growth of the Group's production and financial performance by virtue of the efficient use of the accumulated investment resource.
The Strategy defines 4 key development priorities for Inter RAO Group.
VALUE APPRECIATION. The Group aims to implement modernization projects for power units of thermal power plants, participate in competitive capacity outtakes of new generating facilities, new construction projects, mergers and acquisitions, as well as further improve the efficiency of existing assets and increase the level of sustainable development.
DIVERSIFICATION. The Group aims to diversify its business, including the development of the mechanical engineering segment, retail business and other promising business areas, including consideration of the possibility to participate in the development of renewable energy.
DIGITALIZATION AND IMPROVEMENT OF EFFICIENCY. In the current asset profile, the Group plans to improve its operational efficiency through digitalization of energy sales, trading, key business processes in the field of production and fund management, as well as by offering new digital services. This will ensure maximum synergy of the Group's business processes, optimize costs and generate new sources of income.
SUSTAINABLE DEVELOPMENT. The Group aims to improve sustainability and, for the first time, sets clear targets to improve its position in the international ESG ratings and reduce its specific carbon footprint.
“As part of the implementation of the global development strategy of Inter RAO, over the past 10 years, the Group's management has met all the targets set by the board of directors,” said CEO Boris KOVALCHUK. “Now we are proceeding to a new stage of development: we have ambitious goals set for the growth of financial and production indicators in the context of the completion of the construction program concerning new power units CDA-1 in the coming years, digital business transformation alongside with improving the reliability of power equipment and the sustainability of energy supply to consumers.”
This press release contains a short list of the Group's development areas which will be detailed in the presentation of the Strategy with the participation of the CEO and key top managers of PJSC Inter RAO. Detailed information about the event will be published on the website www.interrao.ru.
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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 30.9 GW of installed power generation capacity.