The biggest Russian private energy company OAO EvroSibEnergo and the leading diversified Mongolian holding Just Group signed a Memorandum on the strategic cooperation in the power field. Alexander Sergeev, member of OAO EvroSibEnergo Board of Directors, managing director for energy of En+ Group and CEO of Just Group Sharavlamdan Bathu signed the document.
The memorandum covers the study of co-investing possibilities in the construction of the new generating capacities and the modernization of the existing capacities in Mongolia as well as the possibilities of the joint purchase of the assets in the area of coal mining in Mongolia and study of the variants of power supply organization from Russia to China through Mongolia.
OAO EvroSibEnergo and Just Group also agreed on studying the possibilities of heat station construction at the edge of Tavan Tolgoi, the world’s largest undeveloped coal field. The consortium of En+ Group (owning OAO EvroSibEnergo), Renova and RZD is one of the main candidates for its development and also on the development of other coal fields with the total capacity of up to 4GW. In July 2010 the En+ Group offers on the Tavan Tolgoi field development and the organization of power supply outward Mongolia from the Tavan Tolgoi coal-powered stations were supported under the Mongolia-Russian Intergovernmental Commission Protocol.
“A significant growth in power consumption is expected in the next years in Mongolia. It is connected to the realization of a large number of energy-intensive projects in such areas as mining and mineral processing, infrastructure development including the railway construction to connect Gobi region and Zabaikalsky Territory in Russia. We are sure that joint projects in energy development will significantly strengthen the Russian-Mongolian transnational connections”, Alexander Sergeev, member of OAO EvroSibEnergo Board of Directors, managing director for energy of En+ Group said.
“We are happy to cooperate with the largest Russian private energy company and see the vast potential in it, including the geographical proximity of the key assets of OAO EvroSibEnergo to Asia and Mongolia and the complex approach to the project development in Mongolia offered by En+ Group”, Sharavlamdan Bathu, CEO of Just Group pointed out.
Press service of OAO EvroSibEnergo
Companies’ profile
OAO EvroSibEnergo (www.eurosib.ru) is the biggest private energy company in Russia and it is owned by En+ Group. OAO EvroSibEnergo controls 14 power stations with the total capacity of 19.5 GW. More than 15GW of it are produced by large HPP of the Angara-Yeniseysk cascade (Kraskoyarsk, Bratsk, Ust-Ilimsk and Irkutsk HPPs). It also controls the coal fields with the total deposit of 1.2 bln tons, sales and engineering companies. In 2009 the power stations of OAO EvroSibEnergo produced more than 82 bln kWh, which equals 8.7% of energy in Russia.
Just Group (www.justgroup.mn) is the leading diversified holding company in Mongolia. The key businesses of Just Group are oil supply, coal mining, construction and agriculture.
September 08, 2010