VEB and RNC CIGRE Association agree on proactive search for projects in branches of energy infrastructure

november 3, 2017

Vnesheconombank and Association Russian National Committee of the International Council on Large Electric Systems (RNC CIGRE Association) entered into a cooperation agreement. 

On behalf of Vnesheconombank, the document was signed by its Chairman Sergey Gorkov; on behalf of the Association Chairman of the Association and FGC UES Andrey Murov. 

The parties agreed to cooperate on the search for and selection of investment projects in branches of the energy infrastructure, power plant engineering and electric engineering; to provide support to the innovative development of national engineering in the area of production and transmission of electric power, including smart energy systems; to exchange technical and economic information pertaining to priority areas of development of the global electric power industry; to collaborate in regard to performance of the wholesale and retail markets of electric power energy and capacity. 

We are building a unit of industry-specific analysis that will allow selecting possible niches for investments. In addition to traditional acceptance of applications for financing of clients on their initiative, VEB proactively seeks deals and jointly with clients selects potential areas of investing. This will enable VEB to better fulfill its mission of a development bank and take into account the governments priorities in its investment activity. Generation and distribution of electric energy, including construction and upgrade of facilities, are priorities for the Banks investments. There are a number of projects in this area currently reviewed by the Bank with estimated VEB participation exceeding 100 bn rubles, stressed Sergey Gorkov.   

As part of a global network, RNC CIGRE has access to the widest global expertise. This resource can be utilized effectively for selection and development of projects with VEB involvement, emphasized Andrey Murov. 

The parties anticipate that cooperation between the Bank and Association will facilitate development of Russian economy and give a new impetus to diversification of the energy industry and promotion of Russian equipment abroad. 

Among CIGRE members are more than 1,000 organizations and 7,000 experts employed in all segments of the electric power industry. The main organizational principle of CIGRE is to work through national committees uniting sectorial companies and institutes of their country or geographical region. Today, CIGRE is represented in 95 nations worldwide. The Russian National Committee has one of the leading roles in CIGRE thanks to its size, high level of research in the electric power industry and ability to ensure the reliability of operation of the unique UES of Russia, uniting 69 organizations of the Russian energy industry, with such major energy companies and associations among them as PJSC FGC UES, PJSC Inter RAO, PJSC ROSSETI, PJSC Power Machines, JSC SO UPS, Association NP Market Council, NRU MPEI, and JSC Institute ENERGOSETPROJECT.


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