OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" broadly approved the RAO UES and TNK-BP project to construct the third power unit of 800 MW at the Nizhnevartovskaya TPP controlled by OAO "WGC-1".

The new power unit will be equipped with combined-cycle turbines, which will raise its efficiency to 51% (compared to no more than 40 percent offered by conventional turbines). This helps save up to 20-25% of fuel and reduce hazardous gas emissions threefold.

It is planned that WGC-1 will set up a new company to implement the project, ZAO "Nizhnevartovskaya TPP". Contributions to the company capital will be made in plant assets of the Nizhnevartovskaya TPP valued at not less than the midpoint of the fair market value range determined by an independent appraiser.

At a later time, WGC-1 and TNK-BP will establish a joint venture, NVG Ltd., to implement the construction of power unit 3 at the Nizhnevartovskaya TPP. The founders will hold up to 70 percent and up to 30 percent in NVG Ltd., respectively.