Are you sure?

Czech power giant CEZ on track to build power plant near Moscow

The Russian government picked the Czech state-controlled power giant CEZ to construct a steam-gas power plant north of Moscow, the company said Tuesday.

The Russian cabinet resolved that CEZ is to build three steam-gas power units with a combined output of 600 megawatts six kilometers north of the capital, said Eva Novakova, a spokeswoman for CEZ. The investment contract should be negotiated within a half year, she said. “If the project is carried out it will certainly be one of the largest Czech investments abroad in the range of billions to tens of billions of korunas,” Novakova told Deutsche Presse-Agentur dpa. According to another CEZ spokesman Ladislav Kriz, “such power plants cost around 10, 20 billion koruna but it is impossible to know now.”

This is not the first time when the Czech power giant has made a charge toward the promising Russian energy market. In April, CEZ signed an agreement with Russian energy concern RAO - EES and its TGK-4 subsidiary to form a joint venture with plans to renovate and build steam-gas and coal-fired power units in Shchekino, 200 kilometers south of Moscow. (