Inter RAO Group General Electric

Inter RAO increases its stake in Russian Gas Turbines to 50%

19.04.2019

MOSCOW, Russia – April 19, 2019 - Inter RAO increased its interest in Russian Gas Turbines from 25% to 50% by buying out a 25% stake from the United Engine Corporation (UEC), a Rostec company.

The deal was closed on April 18, 2019.

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Russian Gas Turbines - a joint venture of General Electric and Inter RAO. The company manufactures and provides maintenance services of high-efficient 6F.03 (6FA) 82 MW gas turbine units.

GE (NYSE: GE) works on things that others cannot imagine, creates what no one else can, and finds the best solutions that make the world a better place. GE successfully connects the material world with the world of digital technologies. In research laboratories, in factories and in working with clients, GE creates a new industrial era in order to provide the world with energy, transportation, infrastructure, and to help to maintain the people’s health. GE has worked in Russia for almost 100 years, using international experience and localizing advanced technologies in collaboration with strategic partners in the energy sector, oil and gas industry, transport, healthcare to solve key infrastructure issues of the region and to improve people's lives. More than 1500 GE employees work in Russia and the CIS. The regional headquarters are located in Moscow. Find more information on the official GE website – www.ge.ru

The “Inter RAO” group is a diversified energy holding present in different segments of the electric power industry in Russia and abroad. The company occupies leading positions in Russia in the field of export-import of electricity, actively increasing its presence in the segments of generation and distribution, as well as developing new business areas. The strategy of “Inter RAO” aims at creating a global energy enterprise – a key player in the global energy market, a leader in the Russian power industry in the area of productivity. Installed capacity of power plants included in the “Inter RAO” group and under its management exceeds at 33 GW. www.interrao.ru