INTER RAO UES Appoints Investment Consultant For Baltic NPP Project

The preliminary total amount of the project investments is currently estimated at 5 billion euro. This is the first Russian nuclear power plant project, which is open for the participation of external investors, including the international ones, which will have an opportunity to acquire up to 49% in the project.
In July 2010, INTER RAO UES and Concern Rosenergoatom signed an agency agreement, whereby INTER RAO UES would arrange a banking feasibility study for the Baltic Nuclear Power Plant construction project. WorleyParsons, an international engineering company, is a technical consultant, and Norton Rose, an international legal services provider, is a legal consultant for this project.
Baltic Nuclear Power Plant project was started on February 25, 2010 in Neman District of Kaliningrad Oblast. State Corporation Rosatom is building the plant according to AES-2006 blueprint with two generating units with total capacity of 2300 MW. The first generating unit should be operational in 2016, and the second one in 2018. Baltic Nuclear Power Plant will provide electricity to Kaliningrad Oblast and for export sales.