October 5, 2007
Russian Giant to Build
Indian Hydropower Plants
Moscow
HydroOGK, the world's second-largest hydropower generating company,
may invest $30 billion to build hydropower plants in India, said
Sergei Pavlenko, a senior manager of the Russian firm.
"The Indian government has approved a programme of commissioning new
generating facilities with a capacity of 50 GW within 15 years," he
said. "We are considering involvement in some of these projects, in
particular in the construction of hydropower plants in northern
India near the Himalayas.
"We will name the projects in which we will participate within the
next few months," Pavlenko said, adding that HydroOGK would work
jointly with Indian energy company Sun Group.
The two companies signed a memorandum of cooperation during the
international economic forum in St Petersburg this summer.
Pavlenko said that Power Machines, the largest Russian manufacturer
of power industry equipment, and other companies, including foreign
ones, could produce equipment for the Indian plants.
Vasily Zubakin, deputy chairman of HydroOGK, said: "HydroOGK will be
not so much an investor, as a full-fledged partner in the Indian
projects." He added that an inter-governmental agreement should be
signed to implement them.
Vyacheslav Sinyugin, head of HydroOGK, had earlier said that this
year the parties should set up a management company on a parity
basis to prepare construction plans.
The two Russian companies involved in power generation projects
abroad now are Technopromexport, which builds thermal power plants,
and Atomstroyexport, which builds nuclear power plants under turnkey
conditions.
India's Sun Group is implementing joint projects with independent
Russian natural gas producer Itera. Their joint venture is taking
part in the construction of a liquefied natural gas terminal in
Gujarat.
HydroOGK is a wholly owned subsidiary of Russian electricity
monopoly RAO UES.
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