En+ Group could build a coal-fired power plant with a capacity of 2-3 GW in the Irkutsk region

En+ Group could build a 2-3 GW coal-fired power plant in the Irkutsk region – CEO

VLADIVOSTOK. September 4 (Interfax) – En+ Group may build a coal-fired power plant with a capacity of 2-3 gigawatts in the Irkutsk region, CEO Vladimir Kolmogorov said at the Eastern Economic Forum 2024.

“We, of course, need to build something new. We agreed on this with our managers. We have the Tulun coal mine. We should build a coal-fired power plant with a capacity of 2-3 GW right next to this coal mine and extend the power lines from this power plant,” Kolmogorov said.

Former En+ CEO Mikhail Khardikov spoke about the possibility of building a coal-fired power plant in the Tulunsky district of the Irkutsk region in the spring of 2023. “These are our proposals for the moment. I cannot say that we have already made such a decision,” he said at the time.

Meanwhile, Khardikov said the company had considered several sites for the construction of a new thermal power plant in the Irkutsk region.

En+ will build three new coal-fired power plants at CHPP-11 Irkutsk, taking into account the results of two competitions held in 2024 to build a new generation in Siberia.

En+ Group is a vertically integrated producer that combines power generation assets with an installed capacity of 19.6 GW, including 15.1 GW of hydropower assets, and aluminum production with an annual capacity of 3.9 million tons through a majority stake in Rusal.

En+ Group has no majority shareholder. Oleg Deripaska, the founder of the company, has reduced his stake to 44.95% and a maximum voting share of 35% to exempt En+ from sanctions. The quasi-equity stake is 21.4%, which was bought by VTB for $1.58 billion; Glencore owns 10.55% of the shares. The free float is around 9.5%.