Italian utility Enel SpA (ENEL.MI) and Russia's state-controlled Inter RAO UES (IRAO.RS) Monday agreed to together build a nuclear power plant in the Russian region of Kaliningrad, among other projects.
Italian utility Enel SpA (ENEL.MI) and
Russia
's
state-controlled Inter RAO UES (IRAO.RS) Monday agreed to together build a
nuclear power plant in the Russian region of
Kaliningrad
,
among other projects.
With two units of 1,170 megawatts each, the plant will export a
"significant proportion" of the electricity it produces to nearby
European markets when it comes into operation between 2016 and 2018, a
statement said, adding that it is "the first nuclear public-private
partnership in Russia."
At 1114 GMT, Enel shares were up 0.48% at EUR4.15 in
Milan
,
while Inter ROA shares were down 1.0% at 0.0596 rubles in
Moscow
.
The companies' memorandum of understanding was signed by Enel Chief Executive
Fulvio Conti and Inter RAO's Boris Kovalchuk during an official visit by
Russian Prime Minister Vladimir Putin to
Italy
,
where he met with Italian Prime Minister Silvio Berlusconi.
Kovalchuk is the acting chairman of Inter RAO's management committee.
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