Enel Russia completes transfer of 3,800 MW Reftinskaya GRES coal-fired power plan to Kuzbassenergo
JSC Kuzbassenergo, backed by Siberian Generating Company, has acquired the Reftinskaya GRES coal-fired power plant from Enel Russia RUB20.7 billion (US$317.17 million).
The transfer has been completed, following the federal registration of ownership transfer for the immovable property of Reftinskaya GRES, as set forth in the sale-purchase agreement between Enel Russia and Kuzbassenergo, entered into effect once Russia’s Federal Antimonopoly Service approved the transaction on July 31st, 2019.
Enel Russia has so far received the first two installments for a total of RUB16.7 billion (US$255.88 million).
The remaining tranche of the consideration will be paid when Kuzbassenergo obtains all the licenses and permits necessary to operate the plant and in any case within one year from today. Until that time, Enel Russia will continue to operate Reftinskaya GRES under a lease agreement approved by Russia’s Federal Antimonopoly Service.
A contingent component of up to RUB3 billion (US$45.97 million) is also envisaged, to be paid within five years from today subject to specific conditions.
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