Bloomberg News

RusHydro, Federal Grid Seek Funds for Investment, Vedomosti Says

May 02, 2012

State-run energy companies including OAO RusHydro and Federal Grid Co. are looking at new ways to finance their investment programs amid caps on how much they can raise prices, Vedomosti reported.

The federal government plans to set aside 22 billion rubles ($750 million) for RusHydro this year and 42 billion rubles next year to help finance the company’s 350 billion ruble investment program for 2012 to 2014, the Moscow-based newspaper reported, citing a Finance Ministry proposal.

Federal Grid will partially finance its 592.3 billion ruble investment program to 2014 by selling debt, Vedomosti reported. The board of directors on April 27 approved plans to sell as much as 325 billion rubles in debt, though it is not planning to raise the full amount, the newspaper said, citing an unidentified company spokesman.

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net


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