“Investment in the Russian electric power sector will total about $6 billion. It is also possible that the company will invest another $3 billion,” Dominique Fache said. Italy’s leading power company entered the Russian energy market in 2004. It currently jointly manages the Russian North-West Thermal Power Plant. In April, it acquired the gas assets of Russia’s bankrupt oil company Yukos. On June 6, at an auction in Moscow, the Italian firm acquired a 25.03% stake in the wholesale generating company OGK-5 and bought another 4.96% on June 22 to bring up its stake in the Russian wholesale power generator to 29.99%. In August it received authorization from Russia’s Federal Anti-Monopoly Service (FAS) to acquire over 70% in OGK-5. (rian.ru)
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