The station was put into operational in 1964 and supplied its first heat to Zheleznogorsk city and industrial enterprises.
Today Thermal Power Station-16 is a unique source of heat supply of Korshunovsky Mining-And-Processing Integrated Works Plant, housing-and-municipal sector of the city, and the enterprises connected with them.
Now total electric capacity of the station equals 18 MW, thermal capacity amounts to 254.8 Gcal/h. Besides, in 2000 the electric boiler compartment was put into service, which became the part of the structure of Thermal Power Station-16. The installed electric capacity of the boiler compartment is 80 MW, the installed thermal capacity amounts to 68.8 Gcal/h. It consists of eight electric boilers of 10 MW each.
The staff of the station equals 291 people.