UC Rusal to buy Ondonskaya hydro-electric power station by the end of the summer

UC Rusal intends to conclude the deal on the acquisition of the Ondonskaya hydro-electric power station during the summer of this year, the first deputy director of the company, Vladislav Soloviev reported.

The exact price of the purchase wasn’t reported. Previously, UC Rusal declared its readiness to purchase the Ondonskaya hydro-electric power station for $48 million. However, a disagreement about the price occurred between the aluminium company and seller in the face of Gazprom energy holding. The latter offered to sell the station for 2.5 billion rubles, but UC Rusal stated that the proposed price is too high and not economically viable because it wouldn’t allow it to bring the Nadvoitsky aluminium plant from unprofitable state at current high tariffs for electricity.