RusHydro asks for money – Kommersant
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According to Kommersant, RusHydro continues to seek the allocation of funds from the National Welfare Fund for the construction of two thermal power plants to supply electricity to the Eastern test site. Thus, the company wants to cover up to 40% of the cost of expanding Partizanskaya GRES, that is, 30.5 billion rubles, with the funds of the National Welfare Fund. out of 76.2 billion rubles. The company asks to co-finance the construction of the second stage of the Neryungrinskaya GRES from the funds of the National Welfare Fund also by 40%, that is, to allocate 38.5 billion rubles. out of 96.3 billion rubles. This follows from the materials of the commission on the development of the railway infrastructure of Siberia and the Far East. The company’s earlier requests for NWF funds were rejected.
The NWF funds are repayable, but they are cheaper than loans on market terms. RusHydro wants to get them at 2% for 20 years, according to the materials. The effect of raising funds for Partizanskaya GRES should be a reduction in interest payments by 24.8 billion rubles, a reduction in the payback period of the project from eleven to eight years. The reduction in interest payments for the second stage of the Neryungrinskaya GRES will amount to 29.3 billion rubles, the project will pay off in five years instead of seven.
RusHydro confirmed to Kommersant that a few months ago they applied through the Ministry of Energy for obtaining a loan from the National Welfare Fund to finance priority investment projects in the Far Eastern Federal District (Eastern Polygon). “We have not received a decision yet. Receiving funds from the National Welfare Fund at a rate lower than the bank loan rate will reduce the cost of borrowing for us,” the company said. The amount of funds requested was not commented on there.
RusHydro’s proposals are being worked out at the Ministry of Finance (they did not respond to Kommersant’s request), the coordinated position of the relevant departments should be sent to the Russian government before June 2.
In addition to the projects of Partizanskaya and Neryungrinskaya GRES, in order to expand the Eastern test site, RusHydro must also build Khabarovsk CHPP-4, Artemovskaya CHPP-2, the second stage of Yakutskaya GRES-2, and reconstruct Vladivostok CHPP-2. The last four projects will be built according to the mechanism of capacity supply contracts, which guarantees the return of funds from the energy market.
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