Russian hydropower company Rushydro has reached an agreement with Andrey Melnichenko, a minority shareholder of the Far Eastern Energy Company (DEK), under the terms of which Rushydro will swap the Luchegorsky steam coal mine and the 1.5 GW Primorsk power plant in the Russian Far East for a 42% stake in DEK and a minority stake in Far East Distribution Company (DRSK). Rushydro, which already owns 52% of DEK, will reach 94% of the company. In addition, Rushydro could also transfer new CHP plants, including the second phase of the Blagoveshenskaya CHP, Vostochnaya CHP and Sovetkaya Gavan CHP plants.
Andrey Melnichenko is a majority shareholder in the Siberian Generating Company (SUEK), the largest steam coal producer in Russia, which owns nearly 11 GW of coal-fired power plants in Russia. SUEK, through a subsidiary, recently acquired Enel's 3,800 MW Reftinskaya coal-fired power plant in Reftinsky (transaction to be completed by the end of 2019).
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