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Russian power generator TGK-8 posts 260% net profit rise in H1

Russia’s southern power generating company TGK-8 said on Thursday its net profit calculated to Russian Accounting Standards increased 260% year-on-year in January-June to 515.6 million rubles ($22 million).

Russia’s largest power producer in the country’s south attributed its net profit growth to effective operations in the reporting period. “Growth is due to the company’s effective work in the conditions of the electric power market’s liberalization and the expansion of electricity sales on the free market” TGK-8 said. TGK-8 has installed electric power capacity of 3.6GW and heat capacity of 13.3 Gcal/h. (