Moscow, 21 August 2006. OAO "Eksperimentalnaya TPP"* has started acceptance of bids for competitive negotiations to select a services provider to support the process to raise investments needed to modernize the power plant.
Bids are accepted through 8 September 2006 from entities which have the required expertise and track record in organizing private placements to strategic investments and financial investors on the Russian and international markets.
The competitive negotiations are scheduled for 14 September 2006.
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OAO "Eksperimentalnaya TPP" was set up in 2001 on the basis of the Nesvetay TPP. The project sought to create an efficient energy enterprise with the facilities needed to implement new technologies of burning solid fuel and subsequent waste treatment. The modernization project provides for the construction of one or two power units with a capacity of at least 120 MW on the plant's site.
According to the Board resolutions of RAO "UES of Russia" of 23 June 2006, the investments needed to modernize the Eksperimentalnaya TPP are expected to be raised through issuance of additional shares. The shares are to be placed through closed subscription. As a result of the additional share issue, the stake controlled by RAO "UES of Russia" (including the shares held by TGC-8) in the power plant's share capital should be at least 25% plus one share. The placing price for the plant's shares will be determined based on their market valuation as a result of the tender to select an investor.
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