Taimyrenergo OAO

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On June 19, 2006, at an open auction, RAO UES of Russia sold its 100% stake in the regional utility OAO Taimyrenergo to GMK Norilsky Nickel. Taimyrenergo operated two hydro power stations in the Siberian region of Krasnoyarsk - KUREISKAYA and UST KHANTAISKAYA with a total installed capacity of 1,041 MW. In October 2005, RAO UES and GMK Norilsky Nickel set up a 49%/50% joint venture Norilsk Taymir Energy company that held a 10 year lease and operated generating assets of Taimyrenergo and Norilskenergo. There were four bidders for Taimyrenergo. However, Norilsk Nickel was the only prospective bidder for the company. Taimyrenergo operated an essentially isolated power system whose main client was the mining giant OAO Norilsk Nickel. Norilsk Nickel was consuming more than 90% of the energy generated by Taimyrenergo. GMK Norilsky Nickel was the largest nickel producer in the world. The transaction reached financial closure on July 31, 2006 when Norilsk paid US$271 million for the 100% shares of Taimyrenergo. On April 20, 2007, RAO UES of Russia sold its 49% stake in the Norilsk Taymir Energy company to GMK Norilsky Nickel. The sales of the operating company was finalized in May 2007. UES sold its share 26.9mln rub. In 2005-2007, Russia’s power sector was being restructured. The government planned to break up UES and spin off its generating companies to the private sector. As of end of 2011, Norilsk Nickel was still the sole owner of the company. sponsor website doesn't mention this power plant