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En+ Group considering project to build large wind farm in Blagoveshchensk with Chinese partners

Interfax Russia & CIS Energy Newswire  


    VLADIVOSTOK. Sept 6 (Interfax) - En+ Group (MOEX: ENPG) is considering a project to construct a large wind farm near Blagoveshchensk in partnership with Chinese investors, Mikhail Khardikov, head of the power company's energy business, said at the Eastern Economic Forum 2022.

    Khardikov said that the project would focus on exporting electricity.

    En+ Group is a vertically integrated producer that combines power-generating assets with installed capacity of 19.6 GW, including 15.1 GW of hydropower assets; and aluminum output with annual capacity of 3.9 million tonnes through a controlling stake in Rusal (MOEX: RUAL).

    En+ Group does not have a controlling shareholder. Oleg Deripaska, the company's founder, has reduced his stake to 44.95%, no more than a 35% voting share, in order to withdraw En+ from sanctions. The quasi-treasury stake is 21.4%, purchased from VTB (MOEX: VTBR) for $1.58 billion; and Glencore has 10.55% of the shares. Free float is around 9.5%.

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