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June 17, 2011

IDGC Holding and ERDF will focus on cooperative development of Russian power grids

Today Russian Interregional distribution grid companies Holding (IDGC Holding) and French company Electricité Réseau Distribution France (ERDF) signed an agreement on strategic cooperation. The document was signed by Michelle Bellon, ERDF General Director, and Nikolay Shvets, General Director for IDGC Holding.
According to the agreement, the first step within this strategic cooperation will be transfer of the delegated management of TRK (one of IDGC Holding subsidiaries which is in charge of the distribution networks in Tomsk Region, Siberia) to an ERDF Russian subsidiary (to be created). The corresponding treaty is already coordinated by the Parties.
The purpose of the TRK delegated management transfer to the ERDF subsidiary  is to increase the company's operational efficiency which is to be estimated regarding several certain figures. In particular, the service quality indicator (shows the quality of electric power distribution and technological connection of new clients to the grid), investment program accomplishment, transmission and distribution losses, workplace safety, system average interruption duration and interruption frequency.
The treaty will come into effect after the official consent of the Russian Federal antimonopoly service,  approval of the stockholders at the annual general meeting, confirmation of the TRK directors board, and the permit from the Russian Government commission on foreign investment.

Under the terms of the treaty ERDF representatives will be entitled to run TRK operation business independently, except for the issues within the competence of the company's directors board and management board.  The French management team is supposed to bring in new management techniques and technical solutions in order to achieve some certain operational advantages in comparison with the current model.
“ERDF is successfully functioning in many markets abroad, so we put our hopes on this  mutually beneficial exchange of knowledge, experience and technologies that our future cooperation will bring. Both IDGC Holding and ERDF are accomplishing far-reaching investment in grid infrastructure modernization, developing smart grid technologies, carrying out the projects of the new generation meters implementation, - Nikolay Shvets said. - We foresee that the integration of Russian and French knowledge and experience at power transmission and distribution will bring certain benefits not only for Tomsk region and Russian distribution grids, but to our French partners as well”.
“I am very pleased about this agreement which shows ERDF’s commitment to develop operations of delegated management in Russia to improve the performance of one of distribution companies entrusted to ERDF .
I am also particularly proud to be the first foreign partner to conclude a delegated management contract in the field of electricity distribution in Russia.
This first concrete stage of cooperation in Russia between such groups as IDGC Holding and ERDF is not only important because this is the first step, but also because IDGC Holding and ERDF are both leaders in their home countries, and therefore cooperation between our two groups opens many fields of cooperation.
Our French team who visited TRK in late March received a very warm welcome from their TRK colleagues, as well as warm support from the local and regional authorities”, said Ms Bellon.
The presence of high-level universities at Tomsk, as well as one of the four Special Economic Zones in Russia which is the only one located east of Ural, reveals the high dynamism and potential of the Tomsk region, and we are eager to start our work there ”, added Ms Bellon
Due to the treaty, the parties intend to consider the possibility of cooperation in other Russian regions and other countries as well. The two companies are also aimed to cooperate at the field innovations and R&D.

The history of cooperation between IDGC Holding and ERDF began on the 2nd of March 2010 in the frame of the state visit of the Russian president Dmitri Medvedev to France when the heads of the two companies signed the first cooperation agreement. On June, 19th, during the St.-Petersburg international economic forum the parties signed the memorandum of understanding.
On March 18th 2011 in Moscow Nikolay Shvets and Michelle Bellon signed the term-sheet agreement defining the main terms and conditions under which the subsidiary of ERDF in Russia will become delegated manager of TRK.




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