Medvedev signed a decree on additional issue of Lenenergo

Moscow. November 3. The head of the government Dmitry Medvedev signed the order about carrying out of additional issue of Lenenergo in the amount of 32 billion rubles, said General Director of the network company Andrey Sizov Tuesday. He confirmed that “Lenenergo” will receive this money before the end of this year.

“All approved, I know it was against the order of the government, we are moving on schedule, will not have any problems. All preparatory activities carried out. Dmitry Medvedev signed a decree”, – said Sizov.

In June of this year, President Vladimir Putin held a meeting on the bailout “Lenenergo”. According to the results, it was decided to allocate “Rossetti” 32 billion rubles through the OFZ mechanism. To this end, the state holding is necessary to hold an additional issue, explained the sources. Then additional production will hold a “Lenenergo” to attract these funds.

As reported, “Lenenergo” was in a difficult financial situation due to loss of access to deposits in the amount of 13.4 billion rubles, placed in the Bank “Tavricheskiy”, which is in the process of rehabilitation. In June 2015 the President of the Russian Federation Vladimir Putin held a meeting on the bailout “Lenenergo” following the results of which the decision was made to allocate the “Rossetti” of 32 billion rubles through the mechanism of Federal loan bonds (OFZ). To this end, the state holding is necessary to hold additional shares, then the additional issue will hold “Lenenergo” to attract these funds.

Lenenergo is the largest regional grid company in the North-West of Russia. The company serves a total area of 87.1 thousand square km with a population of over 6 million people. Power grid complex includes 38.8 thousand km of overhead power lines, almost 16 thousand km of cable lines and more than 13,8 thousand of substations of different voltage class. The main shareholders of the company – Russian grids and the administration of St. Petersburg.