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. Last Updated: 07/27/2016

Power Machines Wins Orders for Krasnoyarsk and Mexico

Power Machines, the subject of a takeover battle between Oleg Deripaska and Alexei Mordashov, signed a deal on Friday to supply a Siberian hydropower plant the day after securing a contract to provide turbines to Mexico.

The company will install turbines valued at 3 billion rubles ($117 million) to the Boguchanskaya plant in the Krasnoyarsk region, project operators United Company RusAl and Hydro-OGK said in an e-mailed statement Friday. Power Machines will also provide two generators for Mexico's La Yesca plant, the country's federal electricity commission said Thursday.

RusAl owner Oleg Deripaska is seeking 82 percent of Power Machines, while Severstal CEO Alexei Mordashov aims to take 100 percent control of the turbine maker. Both have received anti-monopoly approval for their bids.

Germany's Siemens and national utility Unified Energy System each own 25 percent of Power Machines, while Norilsk Nickel billionaire Vladimir Potanin's Interros holding has 30 percent. Interros said in July that it was in talks with an unidentified Russian buyer for its stake, while UES said it planned to offer its stake to a group of investors.

Power Machines will provide nine generators between 2009 and 2012 for Boguchanskaya, which RusAl and Hydro agreed to complete last year. The 3,000 megawatt-power plant, now half-finished, will provide power to an aluminum smelter to help the metals company expand into China and fill an energy shortage in Siberia.

Power Machines will provide two 375-megawatt turbines for La Yesca plant in the western Mexican state of Nayarit as part of a group led by Empresas. The contract is valued at $200 million, Itar-Tass reported Friday, citing Andrei Schcherbinov, Power Machines financial director.