JSC Kuzbassenergo completed the acquisition of Reftinskaya GRES from Enel Russia for €292m.

JSC Kuzbassenergo, a Russian joint-stock company specialized in the distribution of energy, completed the acquisition of Reftinskaya GRES, a coal-fired power plant, from Enel Russia, a power generation company, for €292m. Enel Russia has so far received the first two installments for an around €236m. The remaining tranche of the consideration will be paid when Kuzbassenergo obtains all the licenses and permits necessary to operate the plant and in any case within one year from October 1, 2019. Until that time, Enel Russia will continue to operate Reftinskaya GRES under a lease agreement approved by Russia’s Federal Antimonopoly Service.