Gazprom energoholding not in negotiations to acquire T Plus

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AK&M 17 May 2021 17:34

Gazprom energoholding is not in negotiations on the acquisition of T Plus, as stated by Denis Fyodorov, head of department of PJSC Gazprom, Director General of Gazprom Energoholding LLC, during the pross conference "Electric Power Industry: Prospects for Development."

To recap, the media reported on the merger of assets between Gazprom energoholding and T Plus back in 2019. In particular, Kommersant wrote about an option of full acquisition of T Plus by Gazprom energoholding in 2022-2025. The valuation of assets was completed as part of the intended merger between T Plus and Gazprom energoholding, the paper wrote then: T Plus was estimated at RUB 40-45 billion, Gazprom energoholding at RUB 360 billion.

Gazprom energoholding LLC is a vertically-integrated holding company wholly owned by PJSC Gazprom and managing Gazprom Group's generating companies according to single corporate standards.

Gazprom energoholding is the largest owner of power assets (generation of electricity and heat power) in Russia: its has controlling stakes in Mosenergo, MIPC, TGC-1, and OGK-2. The Group comprises more than 80 power plants with a total installed capacity of ca. 39 GW (electric power) and 71.2 thousand Gcal/h (heat power), accounting for about 17% of the total installed capacity in the Russian power industry. Gazprom energoholding is among the top 10 electricity producers in Europe.

T Plus Group (IES-Holding until June 2015) is Russia's biggest privately-owned company engaged in the electricity and heat supply sector. The group's core activities include generation, energy trading, retail sales, energy services. T Plus is responsible for steady uninterrupted power supplies in 16 regions of Russia. More than 14 million individuals and over 160,000 legal entities are the company's clients. T Plus Group manages 54 power stations, more than 400 boiler houses and almost 18,000 kilometers of heat supply networks. The installed electrical capacity of its power facilities is 14.7 GW, the installed heat capacity being 52,000 Gcal/h.