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Putin places foreign shares in two energy companies under administrative receivership

The federal agency will exercise external management over 83.73%-percent stake in Unipro Russia and over 98%-percent stake in Fortum’s Russian division

MOSCOW, April 26. /TASS/. Russian President Vladimir Putin has signed a decree to place foreign stakes in two energy companies - Russian subsidiaries of Unipro and Fortum - under administrative receivership.

The document, published on Tuesday, appoints the Russian Federal Agency for State Property Management (Rosimushchestvo) as the administrative receiver. The federal agency will exercise external management over 83.73%-percent stake in Unipro Russia and over 98%-percent stake in Fortum’s Russian division.

The move was made in response to some states’ unfriendly actions towards Russia.

About the companies

PJSC Unipro (known as E.ON Russia until June 2016) is a thermal power generation company in Russia, which includes five thermal power plants with a combined capacity of over 11,275 MW. They are the Surgut-2 Power Station (5,600 MW), Berezovskaya GRES (1,550 MW), Shatura Power Station (1,500 MW), Smolenskaya GRES (630 MW) and Yajvinskaya GRES (1,016 MW). German-based international energy holding Uniper SE, operating in more than 40 countries worldwide, holds a 83.73% stake in Unipro.

The Russian division of Finland’s Fortum group includes Russia’s Fortum (owns 94.88%), as well as TGK-1 (holds 29.45%). The company is producing and selling electrical power and central heating services. It comprises seven thermal power plants in Urals and West Siberia, a wind farm in the Volga Area region of Ulyanovask and three solar power plants in the Orenburg Region in southern Urals and the republic of Bashkortostan.

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