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March 18, 2011

ERDF and IDGC Holding to strengthen cooperation

On 18 March 2011, in Moscow Russian Interregional Distribution Grid  Companies Holding (IDGC Holding) and French company Electricité Réseau Distribution France (ERDF) signed a new term-sheet agreement. Its main purpose is to define the main terms and conditions under which a subsidiary of ERDF in Russia will become delegated manager of one of IDGC Holding subsidiaries in Russia - TRK, which is in charge of the distribution networks in Tomsk Region (Siberia). The agreement was signed by Michelle Bellon, ERDF General Director, and Nikolay Shvets General Director for IDGC Holding.

Through the term-sheet agreement, MRSK and ERDF have together defined the main terms and conditions under which the transfer of the delegated management of TRK to an ERDF Russian subsidiary to be created, will be set up. The effective transfer is a subject of the further Russian Federation Government approval.

Besides this first delegated management project in Russia for both companies, the term-sheet agreement also encompasses the projected signature of a Strategic Cooperation Agreement between IDGC Holding and ERDF, which has a purpose to define further steps of cooperation between the two distribution leaders: common projects in other regions of Russian Federation as well as in foreign countries, and cooperation in the field of innovation and R&D.

Nikolay Shvets highlighted the importance of delegating management functions of TRK to a strategic foreign partner for the whole distribution grid complex of Russia. “This step will allow us exchange the best advanced practices of effective distribution grids management, and finally reach the brand new quality of the energy consumers service. The results of such cooperation will be highly in demand by the energy systems of both Russia and France”, the General Director of IDGC Holding said.

“Initiated in March 2010 during President Medvedev state visit  to France, the partnership agreement lead in June 2010 to the conclusion of a Memorandum of Understanding in the frame of the International Economic Forum in St Petersburg, which one objective was to define further ERDF contribution to the management and modernization plan designed by IDGC Holding for distribution networks in Russia”, - Michelle Bellon commented.

“The signature this term-sheet agreement is a new milestone in cooperation between our two groups, which allow both IDGC Holding and ERDF to set the main basis upon which a final delegated management agreement can be established in the newt few months, subject to the approval of the Government of the Russian Federation. I am confident that further and deeper cooperation will develop through 2011, as preliminary contacts established between MRSK, TRK, and ERDF teams were already very positive”, the head of ERDF underlined.




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