En+ Group could construct coal-fired thermal power plant with capacity of 2-3 GW in Irkutsk Region - CEO

VLADIVOSTOK. Sept 4 (Interfax) - En+ Group could construct a 2-3 GW coal-fired thermal power plant in the Irkutsk Region, CEO Vladimir Kolmogorov said at the Eastern Economic Forum 2024.

"We need to build something new, of course. We have agreed with our managers at this time. We have the Tulun coal mine. We should build a coal-fired station right at this coal mine, with capacity of 2-3 GW, and extend power lines from this station," Kolmogorov said.

Former En+ CEO Mikhail Khardikov in the spring of 2023 spoke about the possibility of constructing a coal-fired station in the Tulunsky District of the Irkutsk Region. "These are our proposals for now. I cannot say that we have already reached such a decision," he said at the time.

Meantime, Khardikov said that the company had been considering several sites to construct a new thermal power plant in the Irkutsk Region.

En+ will build three new coal-fired power units at Irkutsk CHPP-11 following the results of two competitions held in 2024 to construct new generation in Siberia.

En+ Group is a vertically integrated producer that combines power-generating assets with installed capacity of 19.6 GW, including 15.1 GW of hydropower assets; and aluminum output with annual capacity of 3.9 million tonnes through a controlling stake in Rusal .

En+ Group does not have a controlling shareholder. Oleg Deripaska, the company's founder, has reduced his stake to 44.95%, and no more than a 35% voting share, in order to withdraw En+ from sanctions. The quasi-treasury stake is 21.4%, purchased from VTB for $1.58 billion; and Glencore has 10.55% of the shares. Free float is around 9.5%.