Russian Power Finance & Investment

OTKRITIE Financial Corporation Ltd. is one of Russia’s leading banking groups. Established in 1995, the Company has been actively expanding its domestic and international operations in all segments of the financial markets. Thanks to its diversified business model (commercial banking, investment banking, and investment management), international presence, and a highly professional team the Bank is assured of success in the future.

Fitch Ratings is a global rating agency committed to providing the world’s credit markets with reliable, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings is recognized around the world and across all fixed income markets as a market leader in credit ratings and research. Fitch Ratings’ global expertise draws on local market knowledge and spans across capital markets in over 150 countries. Through Fitch Solutions, a division of the Fitch Group, the firm also provides products and services for the fixed income market. These offerings give market participants greater insight into the credit markets to enable them to make more timely and informed business decisions. Fitch Ratings is widely recognized by investors, issuers, and bankers for its credible, transparent, and timely coverage. The agency's credit ratings cover the global spectrum of corporate, sovereign (including supranational and sub-national), financial, bank, insurance, municipal and other public finance entities and the securities or other obligations they issue, as well as structured finance securities backed by receivables or other financial assets.

Fitch Ratings is dual-headquartered in New York and London and is part of the Fitch Group. In addition to Fitch Ratings, the Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics, and related services. The Fitch Group also includes Algorithmics, a world leading provider of enterprise risk management solutions. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France.

SAP is the world’s leading provider of business software, offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With approximately 75,000 customers in over 120 countries (includes customers from the acquisition of Business Objects), the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol “SAP.” (For more information, visit www.sap.com)

American Appraisal is the largest international independent valuation company. Today American Appraisal Associates operate more than 50 offices in 45 countries of the world. AAR provides valuation opinion and advisory services to the clients in various industries including power and utilities sectors.
Among our clients are major Russian power companies.

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for our clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

* PricewaterhouseCoopers and PwC refer to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL). Each member firm is a separate legal entity and does not act as agent of PwCIL or any other member firm.  PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm's professional judgment or bind another member firm or PwCIL in any way.

Founded originally in Chicago in 1926, A.T. Kearney has developed into one of the leading global management consulting firms. Having expanded to Europe in 1964, A.T. Kearney operates globally in 35 countries. A.T. Kearney has a wide range of topic and industry competences and serves both international corporations and nonprofit government organizations.
A.T. Kearney has been present in Russia for 15 years and successfully completed consulting projects in areas of strategic growth, supply chain management, operating activity optimization, cost-saving programs, sourcing etc.

Padva & Epshtein is one of the leading law firms in Russia, the firm has been offering a wide range of legal solutions to meet its clients’ business needs.
The firm’s legal services include:
• Advice on corporate law issues (business structuring and protection of business)
• Legal support of mergers and acquisitions (M&A), as well as real estate and property complexes transactions
• Litigation in general jurisdiction and arbitration courts
• Insolvency procedures representation
Among the clients of the firm are Russian and foreign manufacturing and industrial companies, banks, agribusiness companies, oil and gas complexes, energy companies and retail chains.
Partners and associates of Padva&Epshtein are highly qualified expert lawyers, specializing in the corporate, finance, tax, procedural, land law and other practice areas.
The professional liability of our law firm is insured for €10 million.

JSC «Energocomplex» is a  power supply company established on December 6, 2004 to  build a series of high voltage switchyards  in Moscow city using third-party financing.

According to the Moscow Government decree N250-RP (February 21, 2006) «On off-budget financing of building of high voltage switchyards» JSC «Energocomplex» will apply own funds as well as third-party capital to finance design and construction of 14 high voltage switchyards  in Moscow city within a term of 4 years. JSC «Energocomplex» invest program of building high-voltage switchyard  transmission facilities 110-220kV was approved at one time with the other Moscow-based energetic companies by the Moscow government decree № 33 (July 15, 2006) «On complex development program of Moscow power supply network, 2006–2010 and investment programs for development and modernization of the Moscow city power supply» and decree № 38 «On amending Moscow government decree», № 33 (July 15, 2006)", «On complex development program of Moscow power supply network, 2006–2010 and investment programs for development and modernization of the Moscow city power supply».

The decree implies the development of the city high-voltage transmission network enlarging the capability of the switchyard 110–220 kV on 5900 megawatts and building of air and cable lines of transmission applying for this level of high voltage. These developments are guaranteed by the 4 invest projects: JSC Mosenergo, JSC Moscow joint electro supply Co, the Government of Moscow and JSC  «Energocomplex».

JSC «Energocomplex» invest program implies the building of the 14 high voltage switchyards with a power of 5000 Mgt. and a number of the high voltage energy lines with an estimated cost of 100 billion  rubles. The specified JSC «Energocomplex»  investment program of building 14 high voltage power switchyards is approved by the Moscow Government Regional Energy Committee (REC) Decree № 15 (12.03.2008) «On approving of invest programs of  energy transmission and other companies of the Moscow city  in purpose of carrying out the consumer technical involvement in energy transmission network» and decree № 38 «On amending Moscow government decree № 33 (July 15, 2006) and On complex development program of Moscow power supply network, 2006–2010 and investment programs for development and modernization of the Moscow city power supply».