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Russia's Inter RAO UES Takes Full Control of Moldovan Power Plant MoldGRES

Russia's Inter RAO UES Takes Full Control of Moldovan Power Plant MoldGRES

CHISINAU (Moldova), July 31 (SeeNews) – Russian electricity trader Inter RAO UES took full control of the Moldovan power plant MoldGRES after it bought a 49% stake in the company for $163 million (104.4 million euro), the buyer said on Thursday.

Inter RAO UES bought the stake from Hungarian energy company EMFESZ and will finance the deal through loans, the company said in a statement.

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It added that some big European energy companies are interested in buying MoldGRES, located in Moldova's breakaway region of Transdniestria.

"The acquisiton of a 49% stake in the plant now will make it possible to attract these European investors in the plant later, following medium-term investments," Inter RAO UES said without elaborating.

Hydro power plant MoldGRES has an installed capacity of 2,520 megawatt, but operates just two of its 12 generation units.

($=0.6407 euro)

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