Italy’s Enel has increased its stake in Russian wholesale power company OGK-5 by acquiring a further 4.96% of the total share capital of the generation company for $281 million.
Enel already owed a 25.03% stake in the company, which it acquired at a price of $1,516 million last June.
Enel now owns 29.99% of the company’s share capital and aims to gain control of the company.
OGK-5 runs four thermal power plants with an overall capacity of 8,700 MW located in various areas of the country including 2,400 MW of gas-fired capacity at Konakovskaya in the Tver Region of Central Russia; 1,290 MW of gas-fired capacity at Nevinnomysskaya in the Stavropol Region of Southern Russia and 3,800 MW of coal-fired capacity and 1,182 MW of gas-fired capacity in the Urals’ Sverdlovsk Region.
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