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RAO ES of the East retains the status of a legal entity - EastRussia | Far East

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RAO ES of the East retains the status of a legal entity

RAO ES of the East retains the status of a legal entity
The deputy head of the Ministry of Energy, Vyacheslav Kravchenko, said that after RusHydro was capitalizing on, the status of a legal entity with RAO Energy Systems of the East (RAO ES of the East) would be maintained.
As the official noted, RusHydro will undergo an internal restructuring and possible additional capitalization of the company in the amount up to 55 billion rubles.


As previously reported, RusHydro considers additional capitalization as a way out of the current situation with the debts of RAO ES of the East, since the company's debt in the first half of this year amounted to 104,5 billion rubles.

In April of this year, RusHydro management announced that it is going to cover the liabilities of RAO ES of the East by the end of the year.
As one of the ways to resolve the issue could become a buyout of 20% of additional issue of RusHydro VTB Bank for 85 billion rubles. But nevertheless, the final decision on a deal with VTB was never accepted by the company.

Another option was offered by FGC UES, which was ready to buy from RusHydro 100% of Far East distribution grid company, and in addition to withdraw the state-owned Far Eastern energy managing company. This option was also not approved.