ESE Acquires Angara HPP Cascade Dams From RusHydro
EuroSibEnergo (ESE) completed acquisition of five dams of the Angara HPP cascade from RusHydro – the Bratsk HPP right and left bank dams, the Ust-Ilimsk HPP dam and the Irkutsk HPP right and left bank dams.
The purchased dams is a part of the technological complex of the ESE’s hydro power plants located on the River Angara. Previously ESE rented the dams from RusHydro.
The dams were bought by the ESE’s subsidiary Telmamskaya HPP for RUB9,280 mln (plus VAT of RUB1,670 mln), based on an independent estimate of the dams’ market value provided by KPMG. The transaction was financed with a loan from VTB and Sberbank.
“The acquisition of the dams drew the bottom line under consolidation of the ESE’s main assets, which enables us to have a single HPP technology and asset package, to boost the upgrade, to ramp up reliability and efficiency”, ESE’s CEO Vyacheslav Solomin commented.
November 18, 2016