Russian Shareholders Of Ekibastuz GRES-2 Selling Their Stake

Ekibastuz GRES-2 Power Station

Russian shareholders of Ekibastuz GRES-2 – PAO Inter RAO are selling their stake, reports the annual report of the power company.

“The group has reclassified 50% shareholding in the owned company Station Ekibastuz GRES-2 with the balance cost of 6020 mln rubles in the content of assets classified as for sale in the aims of the management to sell this investment,” said the company.

The negotiable price is 3 bn rubles. The gap between the balance cost and sale price is explained by the investment depreciation.

As it was reported, the Russian shareholders two times declared about inexpediency of continuation of the project of the third energy block construction.

The third energy  block was supposed to increase the station’s power from 1000 to 1630 mWt. Additional intergovernmental negotiations were held, it was reported about preparation of the foundation pit and equipment order. However, main works did not start at the object. Samruk Kazyna declared a new term- the year of 2024.

Ekibastuz GRES-2 Power StationThe GRES-2 Power Station (or Power Station Ekibastuz) is a coal-fueled power generating station in Ekibastuz, Kazakhstan. GRES-2, built in 1987, has installed capacity of 1,000 MWe and has the world’s tallest flue gas stack at 419.7 metres (1,377 ft) high. The chimney is about 38 metres (125 ft) taller than the Inco Superstack in Sudbury, Canada. Locals refer to it as “the Cigarette Lighter”. It is the tallest chimney ever built.

Ekibastuz GRES-2 Power StationThe power station is the start of the Powerline Ekibastuz–Kokshetau and uses a transmission voltage of 1,150 kVAC, the highest transmission voltage in the world. The extension of this line to Elektrostal in Russia is also designed for 1,150 kV, but it currently operates at only 400 kV. About 3/4 of the energy produced by GRES-2 is exported to Russia.

Fifty percent of GRES-2 shares are owned by Inter RAO UES, and 50% by Kazakhstan’s government.