(RIA Novosti) - The head of Russia's electricity monopoly said Tuesday he would welcome foreign investment in two or three power plants of the 20 generating companies that resulted from energy-sector reform.
UES boss Anatoly Chubais told an investment conference in Moscow: "We have set up over 20 generating companies in the course of power-sector reform. I believe the advent of strategic foreign investors with controlling stakes [over 50%], rather than blocking stakes [25%-50%], would be appropriate. And I will spare no effort [to
secure them]."
Chubais said investment in the power sector should be tripled in the next three years, adding that investment was planned to total about $85 billion up to 2010, and that the sector needed to raise about $7 billion in investment in 2006, reports Trend.
He also welcomed Finnish energy concern Fortum's presence on the Russian market.
"As a strategic investor, Fortum is building up its share in TGK-1 [the biggest electricity producer in northwestern Russia]. We believe this is proper and sensible," he said.
Chubais said in 2006 the electricity giant would focus on additional issues of shares in generating companies, and that the initial sale of shares in thermal power plants could take place in 2007.