Centrenergo completing recovery of last power unit damaged by 2013 fire

Centrenergo completing recovery of last power unit damaged by 2013 fire



14 серпня 2015 года
Конкорд Капитал

Центрэнерго (CEEN)


Power GenCo Centrenergo (CEEN UK) is completing recovery work at power unit #2 of the Vuhlehirsk (Uglegorsk) Thermal Power Plant, the company reported on Aug. 13. The unit’s commissioning is planned in early September 2015. This power unit was most damaged by fire in March 2013, which affected each of the four 300MW coal-fired units at Uglegorsk TPP.

After the fire, the company was able to restart units #1 and #4 in late 2013, and #3 in early 2014. Commissioning of the latest power unit will enable reducing the capacity deficit in Ukraine’s energy system in the upcoming heating season, according to Centrenergo.

Alexander Paraschiy: Uglegorsk TPP is designed to burn bituminous coal, which is not scarce in Ukraine, as an alternative to the unavailable anthracite coal. Higher coal-fired capacity in the coming winter is indeed important for Ukraine's energy system.

But yet an even more important reason for the last damaged power unit to be put into operation is the pre-privatization wrapping of Centrenergo. According to the latest schedule of privatization provided by the State Property Fund of Ukraine, a 10% stake in the company is slated for sale in September 2015, and a 68.3% stake is scheduled for December 2015.

At this stage, there is no update from the State Property Fund or the Cabinet on a more precise privatization schedule, but the company remains among the top priorities for sale, being one of the biggest assets in the privatization list.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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