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. Last Updated: 07/27/2016

Dart Invests in Hydropower Plants

Billionaire Kenneth Dart, who battled company owners in Russia over investor rights in the 1990s, is again investing in the country, this time in hydropower.

Dart owns about 3 percent of hydro plant Votkinskaya GES by means of the investment vehicle DCL-KF, Andrei Petrushinin, a spokesman for Hydro OGK said, the country's biggest hydroelectric generator.

The billionaire, who's been engaged in legal disputes for investor rights with the Argentine government and the now bankrupt oil firm Yukos, formerly controlled by now-jailed Mikhail Khodorkovsky, also has stakes of less than 1 percent in several other hydropower plants, Petrushinin said.

Votkinskaya, in the Perm region, will be one of 50 hydroelectric plants in the country to be consolidated by Hydro OGK this year, creating a state-controlled leader in the hydropower industry. Minority investors in the plants will receive shares in Hydro OGK.