IDGC Holding Developing Partnership Relations with China
Release Date: 2009-09-18
Possibilities for cooperation between IDGC Holding and Chinese power equipment manufacturers were discussed at a working meeting in Moscow on September 18, 2009.
Representatives of Shanghai Kirtun, a leader of the China Electrical Equipment Industrial Association, headed by Chairman of the Management Board Zhang Rongde, visited Interregional Distribution Grid Companies Holding today.
Pavel Okley, IDGC Holding’s Deputy Director General and Technical Director, expressed in his opening speech a hope for fruitful cooperation with Chinese partners to renovate Russian distribution grid facilities and implement joint research and development projects.
The Chinese delegation was given a presentation of IDGC Holding’s key performance indicators as well as development trends in the distribution grid sector according to the Annual Report and the forecasts contained in the Russian Energy Strategy for the period ending 2030.
The meeting participants were shown the Strategy-based plans providing for a double increase in electricity consumption in Russia, which will require substantial investments in distribution grid facilities and new forms of borrowing from both Russian and foreign lenders. From this perspective, China, with its financial institutions and energy companies, has high investment potential and the stable motivation to invest in the Russian distribution grid sector.
The parties agreed on the intention to create a joint venture in Russia to develop, produce, and service state-of-the-art high-technology and energy-efficient equipment.
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