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27. 4. 2007

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Agreement between CEZ and Russian RAO JES group signed

Chairman of the Board of Directors and CEO of CEZ Martin Roman, Chairman of the Board of Directors of Russian RAO JES Anatolij Cubajs and CEO of TGK-4 Gennadij Kocetkov signed protocol on company´s intention to cooperate on energy industry reform in Russia.

Today signed agreement has put foundations to the establishment of the first joint enterprise of RAO JES group with a foreign partner, namely between CEZ and TGK-4, which is being prepared. 

The document is based on CEZ Company´s interest in its contribution to the Russian energy industry. The cooperation of CEZ and RAO JES will include two strategic projects. The first one is connected to construction of a new steam-gas unit with the capacity of 400 to 420 MW in the “Stchokino” power plant (200km southern of Moscow) and at the same time participation in reconstruction and modernization of the present units of the plant. This intention has already been discussed with minority share-holders of TGK-4 and is being implemented at present.

If it is purposeful, the joint enterprise will continue to work on another project as well – construction of two 200 to 250 MW power units for combustion of soft coal in “Stchokino” power plant.

RAO JES Russia was established in 1992. It owns heat and hydro power plants, long-distance transmission grid of electrical energy and shares in other energy and industrial firms including research organizations. Over 50 per cent of the company´s shares are owned by the Russian state.

Eva Novakova, Press Officer, CEZ, a. s.