In an international open tender, INTER RAO UES selected Societe Generale (SG CFA) as its investment consultant, which will be responsible for the development of a banking feasibility study and securing external investments for the Baltic Nuclear Power Plant (NPP) project.
The preliminary total amount of the project investments is currently estimated at 5 billion euro.
This is the first Russian nuclear power plant project, which is open for the participation of external investors, including the international ones, which will have an opportunity to acquire up to 49% in the project.
In July 2010, INTER RAO UES and Concern Rosenergoatom signed an agency agreement, whereby INTER RAO UES would arrange a banking feasibility study for the Baltic Nuclear Power Plant construction project. WorleyParsons, an international engineering company, is a technical consultant, and Norton Rose, an international legal services provider, is a legal consultant for this project.
Baltic Nuclear Power Plant project was started on February 25, 2010 in Neman District of Kaliningrad Oblast.
State Corporation Rosatom is building the plant according to AES-2006 blueprint with two generating units with total capacity of 2300 MW.
The first generating unit should be operational in 2016, and the second one—in 2018.
Baltic Nuclear Power Plant will provide electricity to Kaliningrad Oblast and for export sales.
INTER RAO UES is a diversified energy holding working in various segments of Russian and international electric power industry.
INTER RAO UES is a leading exporter and importer of electric energy in Russia actively increasing its presence in electricity generation and sales sectors as well as developing new lines of business. INTER RAO UES corporate vision is focused on making the company a global energy enterprise and a key player in the international energy market.
INTER RAO UES Group owns and operates over 28,800 MW of installed power generating capacity.
Societe Generale is one of the largest European financial services groups.
Its 157,000 employees based in 85 countries accompany more than 33 million clients throughout the world on a daily basis.
Societe Generale teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Corporate and investment banking with a global expertise in investment banking, financing and global markets
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama
- International retail banking, with a presence in Central and Eastern Europe, including Russia, in the Mediterranean basin, Africa, in Asia and other regions
Societe Generale is also a significant player in specialized financing and insurance, private banking, asset management and securities services.