OREANDA-NEWS. July 11, 2012. EuroSibEnergo, Russia’s largest private energy company, announces its operating and financial results for 2011.

In 2011, power plants of EuroSibEnergo generated 80.4 bln kWh of electricity, which is 7.6% less than in 2010. The output of the Company’s HPPs (Krasnoyarskaya, Bratskaya, Ust-Ilimskaya and Irkutskaya) exceeded 65 bln kWh (9.3% less than in 2010). Heat energy output of EuroSibEnergo‘s power plants totaled 27.154 thousand Gcal, which is 9% less than in 2010. In both cases, the decrease was mainly caused by adverse water conditions at the HPPs and high air temperature in winter.

The Company’s coal production increased by 8.5% compared to 2010 and amounted to 15.8 mln tonnes. In 2011, the Company switched over to using only its own coal.

The net profit of EuroSibEnergo in 2011 totaled RUB 13.854 bln, which is 55.2% more than in 2010. In 2011, consolidated revenue of EuroSibEnergo (under IFRS) increased by 13.9% to RUB 99.248 bln. The increase in revenue is due to the growth of the main operating results, efficient performance of the Company’s power plants in the wholesale electricity market and well-designed marketing strategy of the Company.

In 2011, EuroSibEnergo’s key investment projects were the following:

• Completing the second part of the Small South project in the Irkutsk Region.

• Continuing the replacement of rotor wheels at the Bratskaya HPP;

• Continuing the construction of external energy supply at Taishet Industrial Hub which is being built;

In 2011, EuroSibEnergo continued its cooperation with China Yangtze Power Co., China’s largest public hydropower corporation. We would like to remind that the companies had agreed to jointly develop the projects for the construction of 10 GW of new capacities (primarily HPPs) in Siberia and the Russian Far East, to meet the demand for electricity in Siberia and organize electricity supply to northern and north-eastern provinces of China.

At present, the companies are developing joint projects with the total capacity of about 3 GW.