Enel Russia, the Russian subsidiary of Enel, Italy, said this week that its board of directors has approved the sale of its largest coal-fired power station to Kuzbassenergo, owned by Siberian Power Company (SUEK), with a transaction size of more than $321 million.
However, the sale of the coal-fired power station ReftinskayaGRES is still subject to shareholders' approval, and the special shareholders meeting is scheduled to be held on July 22.
Since 2016, EnelRussia has been working hard to sell its largest asset, the 3.8 GW coal-fired power station.
The company said it expects to transfer ownership of the ReftinskayaGRES plant within 1.5 years of the agreement's entry into force. EnelRussia also revealed that prices may be adjusted by up to 5%.
“The disposal of ReftinskayaGRES, a coal-fired power station, is fully compliant with the Enel Group's global growth model and is focused on pursuing a more sustainable business model,” Italian parent company Enel said in another statement.
According to sources, Kuzbassenergo is controlled by Russian businessman Andrey Melnichenko, and in May 2018 there was media exposure of AndreyMelnichenko as a potential buyer of ReftinskayaGRES.
The ReftinskayaGRES plant with a capacity of 3,800 megawatts is the largest coal-fired power plant in Russia, owned by EnelRussia and located in the settlement of Reftinsky in the Sverdlovsk region. The power plant consists of six 300 MW units and four 500 MW units. ReftinskayaGRES can meet about 40% of the total electricity consumption in the Sverdlovsk region.
The transaction is subject to approval by the Anti-Monopoly Bureau of the Russian Federation.
