Investment In Russian Power Sector To Hit 80 Billion Dollars

ENERGY TECH

Nuclear power plant, Russia.

by Staff Writers
Moscow (RIA Novosti) Sep 15, 2006
Russian Prime Minister Mikhail Fradkov said Thursday the government forecast investment in the country's power industry at $80 billion in the near term as a result of an ongoing reform in the sector. "The ongoing reform in the power sector allows us to attract $80 billion in the near term. The government is ready for co-financing in some projects," he said, adding that the government sought building new power stations and infrastructure.

Economic Development and Trade Minister German Gref said last month that Russia planned to double investment in the development of the country's non-nuclear power sector in 2007 to 160 billion rubles (about $6 bln) as the result of higher-than-expected rates of growth in electricity demand.

Gref said investment sources had yet to be ascertained, but that funds could be raised by Russia's electricity monopoly Unified Energy System from the sale of its power-generating assets.

UES head Anatoly Chubais said Wednesday the company would consider initial public offerings this month for generating companies and expected to raise $17 billion.

"I think that with account for increased interest in generating companies, we can launch the IPO program for most generating companies," Chubais said. "A new list of companies will be presented in September this year at a board meeting."

Fradkov said the government should step up efforts to resolve sector's problems.

"The power industry is hampering the country's economic development," he said. "We cannot continue to keep silent over this. The government must help Chubais to resolve [the sector's] problems."

ENERGY TECH

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If you're frustrated by frequently losing battery power in your laptop computer, digital camera or portable music player, then take heart: A better source of "juice" is in the works. Chemists at Arizona State University in Tempe have created a tiny hydrogen-gas generator that they say can be developed into a compact fuel cell package that can power these and other electronic devices -- from three to five times longer than conventional batteries of the same size and weight.

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