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Inter RAO Group Publishes IFRS Interim Consolidated Financial Statements for the First Six Months of 2020

PJSC Inter RAO and the administration of the Kostroma Region signed a cooperation agreement

10 August 2020

PJSC Inter RAO and the administration of the Kostroma Region signed an agreement on social and economic cooperation. The parties agreed on long-term partnership based on mutually beneficial cooperation to implement large-scale investment projects on upgrading the thermal power generation segment.

In 2021-2025, six power units with the capacity of 300 MW each will be gradually upgraded at Kostromskaya SDPP. This work will allow using the equipment for a longer period and ensure its reliable functioning; performance of the power plant will also increase considerably. The installed capacity of each power unit after the upgrade will amount to 330 MW.

Re-equipment is mainly aimed at increasing the efficiency of electricity generation and reducing environmental impact of the power plant, and improving reliability of power supply to consumers. To implement these projects and ensure uninterrupted power supply to the Kostroma Region, in 2021 construction of the second string of the high-pressure gas pipeline for Kostromskaya SDPP will already start. This string is to increase reliability of gas supply to the existing power units of the power plant (currently, gas is supplied to the power plant via the only branch of a trunk pipeline commissioned in the 1970s), provide for fuel if the load increases, and will allow the power plant to stop using fuel oil as backup fuel and reduce considerable pollution risks related to storage of a large amount of fuel oil at the power plant.

The agreement on social and economic cooperation between PJSC Inter RAO and the administration of the Kostroma Region also provides for close cooperation in terms of land allocation, amendments to urban-planning documentation to build a backup gas pipeline for Kostromskaya SDPP, etc. After completing the upgrade, tax payments of Inter RAO Group to the regional budget are to increase.


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The Board of Directors of PJSC Inter RAO approved the company's strategy until 2025 with an outlook for 2030
Consolidated
financial statements
prepared according to
IFRS
1H 2020
View report

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 30.9 GW of installed power generation capacity.

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