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. Last Updated: 07/27/2016

IES Values Self At Up to $4Bln

Billionaire Viktor Vekselberg’s power holding, Integrated Energy Systems, values itself at as much as $4 billion and wants to be worth four times that in 2012, said the company’s chief executive officer, Mikhail Slobodin.
IES plans to increase capacity at its four power-generating units and may expand in the Middle East and Africa, Slobodin said, Kommersant reported Monday.
IES offered about $4.3 billion for generator OGK-1, less than the $5.2 billion asking price from Unified Energy System, Slobodin said. IES may try again to buy OGK-1, he said.
The development of Russia’s electricity industry depends on the quick introduction of a capacity market, he said, adding that Deputy Prime Minister Igor Sechin will play a key role in that process.
IES will announce plans for the development of Bashkirenergo with a partner within two weeks, the report said.