RDIF and Rosseti launch “smart grids” project
Moscow, May 19, 2015 – CEO of The Russian Direct Investment Fund (RDIF), Kirill Dmitriev, and Rosseti CEO, Oleg Budargin, have announced the launch of a joint project to build “smart grids.” This project is being implemented as part of an agreement signed by RDIF and Rosseti at the St. Petersburg International Economic Forum in 2014.
The parties are beginning work on installing approximately 223,000 smart electricity metering appliances. This will help prevent unauthorized grid connections, reduce losses and improve widespread production of cutting-edge high-tech equipment in Russia. The project will also provide a number of benefits to the end users by making electricity metering as efficient as possible.
The project will initially be implemented in three regions: the Kaliningrad, Tula and Yaroslavl Regions. During this stage total investment will amount to RUB 2.7 billion.
Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev noted:
“Along with the important social implications, this project will also enable significant efficiency improvements for the Russian energy sector and the economy as a whole. Moreover, the project structure will ensure that funding received from the National Wealth Fund will generate guaranteed returns and profitability.”
Oleg Budargin, CEO of Rosseti, said:
“This is the first project of its kind to be introduced. Supported by RDIF Rosseti is launching the first phase of the nationwide program to install smart metering and monitor electricity consumption. The system will improve the efficiency of Russia’s power infrastructure, from energy generation to the end consumers. The project will reduce the rise in energy bills, and customers will benefit by being able to control remotely and manage their power consumption.”
Russian Direct Investment Fund (RDIF) was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru/Eng_Index/
JSC Russian Grids is the largest electricity transmission and distribution grid company in Russia and, the Company believes, one of the largest electricity transmission and distribution grid companies in the world by length of transmission and distribution lines and installed transformer capacity. The JSC Russian Grids property portfolio comprises interests in 43 joint-stock subsidiaries and affiliates, including interests in 16 interregional and regional distribution grid companies (IDGCs/RDGCs) and Federal Grid Company in Russia. The controlling shareholder is the Government 85.3%. The total spread of networks of JSC Russian Grids operating subsidiaries exceeds 2.3 million kilometers, 473 thousand substations with transformer capacity about 743 gigavolt-amperes. The staff on the payroll of the Company is 228.8 thousand top-ranked specialists. Additional information is available at www.rugrids.ru
Smart Grids - technological integration of power grids, consumers and electricity generators into the unified automated system. This will ensure independent real-time monitoring of operation modes at every stage of the electricity generation, transmission and consumption process. On-line feedbacks via the multiple meter system will be used by the smart grids for automatic responding to all changes within the grid by making best decisions to prevent incidents and supply electricity at the most reliable and efficient level.
Russian Direct Investment Fund
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