The managers of IES-Holding told the journalists of Samara about the general strategy and implementation principles of investment projects in electric power industry. Investment program of VoTGC (TGC-7), approved by IES-Holding, that is the strategic shareholder of the company, was also introduced during the press conference that took place of August 26.

Investment projects of TGC, incorporated in IES-Holding, provide for creation of over 3 GW of new capacities. In compliance with the investment program IES are planning to implement 18 projects in seven regions of the Russian Federation.

According to President of IES-Holding Mikhail Slobodin, the company will fulfill the commitments to the state in the field of new capacities creation. «IES are going to develop generation capacities at a rate that will allow the Holding to be one of the leaders in electricity generation in Russia, to carry out construction ahead of economic growth in regions and to use the most up-to-date, efficient technologies and equipment in construction», - the head of IES-Holding said.

In early August the investment committee of IES-Holding generally approved investment program of four territorial generation companies, in which IES holds the major stock, however some of the projects were decided to refine before implementation. The finalized program will be introduced in autumn 2008.

Vasily Nikonov, the General Director of Volga TGC told about Volga TGC investment program in more detail. The program provides for creation of about 470 MW of new generation capacities. The largest projects are creation of steam plant of 228 MW at Syzran TPP and retrofitting of Novokuibushevsk TPP-1 with installation of 231 MW steam-gas cycle gas-turbine unit.

«Cost of Volga TGC investment program amounts to 26 billion rubles. Such large-scale investment in power industry of Samara, Saratov, Orenburg and Ulyanovsk regions is performed for the first time in many years. Our goals are growth of supply reliability and qualitative improvement of Volga TGC power plants economic efficiency», – Vasily Nikonov said.

Within the frames of visit to Samara the managers of IES-Holding had a meeting with the Governor of Samara region V. Artykov, visited TPP of Samara power center with the purpose of meeting with the employees and managers of plants and inspection of equipment. In this trip Mikhail Slobodin was accompanied by Operational Director of IES-Holding Andrey Shishkin and head of VoTGC Vasily Nokonov.

IES-Holding

IES Holding (IES) is the largest Russian private company, operating in the field of electric power industry and gas distribuion, created in 2002. Basic activities: generation, power trading and retail. Strategic assets of the Holding are TGC-5, TGC-6, TGC-7, TGC-9, a number of regional power sales companies as well as GASEX – a company, operating in the sphere of gas distribution and gas supply to Russia and Ukraine. Aggregate installed electric power output of TGCs, having IES Holding as a strategic shareholder, is 15 767 MW, thermal power output is 67 799 GCal/hour.