RCS - PJSC Inter RAO UES - Inter RAO acquires engineering companies

INTER RAO Lietuva ABAnnouncement

19/05/2021 18:05

RNS Number : 1975Z
  
PJSC Inter RAO UES
  
19 May 2021
  
 

May 19, 2021, Moscow
Inter RAO Group acquires a number of large construction and engineering companies 
 
 Inter RAO Group has closed deals to acquire a 100% interest in the charter capital of 11 large construction and engineering companies providing services for power industry and utilities sector entities.
Acquisition of these assets will allow the Group to improve its control over reliability, quality, deadlines, and prime costs while implementing large-scale projects for construction of power facilities, create major industry players with high reputation, enter new markets, and broaden the range of products and services. In addition, this move will generate clear synergies with existing assets of the Inter RAO Group and will help to gain new competences in power industry and related sectors through providing services to external customers.
The acquired companies work as general contractors within energy sector and provide a wide range of services to large electricity, heat, power grids and other utilities companies including design, supply, repair, construction, and commissioning works as well as automated meter reading and control systems (AMRCS).
The deal was closed as part of the medium-term Strategy of Inter RAO Group approved in 2020 that envisages more than twofold growth of revenues and EBITDA by 2030 as compared to 2019, including due to acquisition of new assets and diversification of business.
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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales and developing new lines of business. The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates about 31.1 GW of installed power generation capacity. www.interrao.ru

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