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En + En + Group

Company

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En + Group is a Russian industrial group, unites companies operating in the field of metallurgy, power, mining, as well as strategically related industries.

Owners:
Deripaska Oleg Vladimirovich - 44,95%

Assets

Owners

+ En + Group (En +)

En + Group was established in 2002 as a holding company - a shareholder of several enterprises in the aluminum industry. By acquiring and consolidating assets into separate structures, in ten years the company has become one of the largest business groups in Russia in the mining, metallurgical and energy industries. The group's activities are related to such areas as aluminum production, alumina, electricity production, coal mining, and other minerals, and we are actively expanding our presence in new industries related to the extraction and processing of natural resources in the East of Russia.

Oleg Deripaska is the president and controlling shareholder of En + Group.

En+ Group

History

2023

Ural bought EnSer

On December 14, 2023, Avtomobilny Zavod JSC completed a Urals Chelyabinsk region deal in Russia to acquire a local supplier of electrical and thermal energy, EnSer JSC. The value of the asset is not disclosed at that date. More. here

Investment of 60 billion rubles in the construction of a 1 GW wind farm in the Amur region

On September 11, 2023, the En + group announced a project for the construction of a wind farm (WES) in the Belogorsk district of the Amur region. The corresponding agreement was concluded with the Far East and Arctic Development Corporation (KRDV) and the Government of the Amur Region.

Within the framework of the agreement, the parties will interact on assessing natural and climatic conditions as part of the construction of a wind farm in the Amur Region with a capacity of 1,058 MW, join forces to develop a large-scale project using state support tools. Capital investments in construction are estimated at 60 billion rubles.

En + announced a project for the construction of a wind farm (WES) in the Belogorsk region
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The rich nature of the Far East makes it possible to launch new and develop existing green power projects. The Far Eastern regions are actively introducing alternative energy sources. Of course, until the sun and wind are able to completely replace traditional coal and fuel oil. But in many cases, generation based on their energy provides additional energy capacity. We will support them. We are starting one of these projects today, "said Yuri Trutnev, Deputy Prime Minister of the Russian Federation - Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District.
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The Blagoveshchensk wind farm with a capacity of up to 1 GW is focused on exports to China of up to 3 billion kWh per year. Electricity is planned to be supplied to the Chinese province of Heilongjiang through the existing Amurskaya-Haihe power transmission line.

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They do not have such a wind potential to the south. There is demand in this province, in addition, China is interested in electricity with a low carbon footprint, - explained the head of the energy business En + Mikhail Hardikov, adding that it is planned to conclude a long-term agreement on the sale of electricity with the Chinese side[1]
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2020: Creation of a mining farm in Siberia in conjunction with BitRiver

On November 5, 2020, aluminum and electricity producer En + Group announced the creation of a joint venture with the operator of the bell center mining cryptocurrencies BitRiver. The partners agreed to develop projects in the field of cryptocurrency mining using renewable energy. here More.

2018: Initiative to sell electricity to miners

On February 14, 2018, it became known about the plans of En + entrepreneur Oleg Deripaska to sell to miners cryptocurrencies electricity for 1 billion rubles in 2018. The group invites miners to sites near its power plants in Siberia.

According to Vedomosti, citing En + CEO Maxim Sokov, the company is negotiating with several funds that are engaged in attracting investments in the construction of mining farms. They will act as consumers of electricity, he explained.

Oleg Deripaska

Sokov stressed that funds are looking for potential investors, including from China and the United States.

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This step will allow En + to diversify its client portfolio, - said the CEO.
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En + will offer miners to build cryptocurrency mining farms near En + power plants. In total, the En + group has five sites for miners: Irkutsk hydroelectric power station with a capacity of 662 MW and CHPP with a capacity of 665 MW, hydroelectric power station in Bratsk, whose capacity is 4500 MW, Ust-Ilim hydroelectric power station (3840 MW) and CHPP (525 MW).

Future electricity rates have not been disclosed. In 2018, the total demand of miners for the company's electricity could be 100 MW.

Natalya Porokhova, head of the ACRA research and forecasting group, suggested that the announced annual demand for electricity could bring En + from $10 to $15 million. VTB Capital analyst Vladimir Sklyar told the publication that, taking into account 2017 prices, the company can gain about 980 million rubles. A Vedomosti source said that En + managers are counting on about this amount of profit

Founder and CEO of Fundery Eduard Lanchev considers this En + project profitable:

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The most expensive part in mining is electricity. Therefore, electric producers will earn the most on miners. Yes, it is profitable.[2]
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Notes