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Investment Risks

Investment Risks

The Group’s investment activities are associated with a number of risk factors with a focus on managing the risk of rescheduling of capacity supplies under the capacity supply contracts.

Risk of failure to meet the commissioning deadlines (failure to meet the capacity supply schedules under capacity supply agreements)

As a result of a number of factors mostly related to failure/improper fulfilment of obligations by the counterparties leading to construction and commissioning delays (general contractors’ insolvency, incompleteness, defects in the equipment supplied, failure by the manufacturers to meet the delivery deadlines, etc.), as well as organizational factors, there is a probability that the commencement date of capacity supplies under the capacity supply agreements will not be met, which may lead to profit deficiencies from the sale of electricity and capacity on WECM and, in a number of cases, penal sanctions under the capacity supply agreements.

To manage these risks, the Group:

  • uses the competencies of its own engineering company LLC Inter RAO – Engineering when implementing projects;
  • organizes project management in accordance with the best Russian and international practices;
  • interacts with its contractors to make a plan of compensatory measures, revises the construction schedule and controls the work schedules;
  • manages claims and complaints with respect to the contractors that do not meet the construction time schedule or other terms of the agreements.