Head of Russian Grids JSC Oleg Budargin Meets EDF Management in Paris

Head of Russian Grids JSC Oleg Budargin Meets EDF Management in Paris 02.07.2014

The CEO of Russian Grids JSC Oleg Budargin, along with the Deputy Energy Minister of Russia Vyacheslav Kravchenko, has held a meeting with Philippe Monloubou, Chairman of the EDF subsidiary ERDF and Olivier Orsini, President of EDF International Networks. Following the results of the meeting a Memorandum of Intent was signed. According to the Memorandum there are plans to expand cooperation in the sphere of the distribution grid network development of Russia.

Another result of the meeting was the creation of a work group, comprising representatives of both the Russian and French companies. It is expected that in the coming months, the group will hold detailed discussions on corporate, legal, technical, political, financial, economic and organizational issues of cooperation.

Cooperation will be aimed at increasing the economic efficiency of power grid assets, increasing their capitalization and reducing losses during electric power transmission and technological failures, as well as increasing investment attractiveness.

During the meeting, Deputy Minister Vyacheslav Kravchenko said that the Russian Ministry of Energy welcomes the cooperation of Russian energy companies with foreign partners. "ERDF is familiar with the Russian market, it knows the regulatory system of the Russian Federation, I am convinced that the new level of partnership will bring new technology and new investments in the development of the power grid network. The Russian Energy Ministry for its part will provide all possible support to joint projects,” Kravchenko was quoted as saying.

"ERDF East has been successfully managing the power grid assets belonging to Russian Grids JSC in Tomsk Oblast since February 2012. During this time we have managed to significantly improve a number of key performance showings of "Tomsk Distribution Company" JSC, having applied the best international operating experiences and modern management systems. Also successful was the collaboration of Russian Grids JSC and ERDF East experts in the course of preparing and holding the Winter Olympic Games in Sochi. Today the task of finding opportunities to expand partnership begins. I am sure that it will be fruitful and it will benefit all interested parties, first and foremost, the consumers," commented Oleg Budargin on the signing of the Memorandum of Intent.

Philippe Monloubou, in his part, thanked the head of Russian Grids JSC for his visit to Paris and expressed confidence that the French and the Russian company will in the near future develop an even more efficient model of cooperation which will help to minimize any risks within the framework of development cooperation.

In conclusion, both sides also agreed to prepare a presentation of joint projects and submit it as part of the CIGRÉ International Energy Forum set to be held this August in France.

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