NEWS

27 January 2014 New Heat Grid Company of JSC "Quadra - Power Generation" Has Started Operations in Lipetsk

In January of 2014, in Lipetsk, LLC "Lipetsk HGC" - 100 % subsidiary of JSC "Quadra - Power Generation" started its operational activities. LLC "Lipetsk HGC" includes heating grids in Lipetsk of 223 km in length and 26 km of heating grids and 2 boiler houses in the town of Lebedyan.

"Company "Quadra - Power Generation" completes implementation of the project for spin-off of the heating business into a separate activity. LLC "Lipetsk HGC"' is the last subsidiary heat grid company, which was established in the framework of this work. Currently, all previously created heat supply companies carry out their activities successfully and implement repair and investment programs for renovation of the heat distribution facilities," General Director of JSC "Quadra - Power Generation" Vladimir Shelkov said.

The principal activities of LLC "Lipetsk HGC" will be supply of heat energy to consumers, operation, maintenance, repairs and development of heating grids and other heating facilities, including designing, engineering surveys, construction, modernization, installation and adjustment. Besides, the responsibility of the power company will include raising funds for the provision of heating services to provision of consumers in Lebedyan. In accordance with the agreements concluded there, the company will conduct settlement of accounts under 5,600 personal accounts.

LLC "Lipetsk HGC" was established under the project of "Quadra - Power Generation" for spinning off the heating business as a separate area of activity, which assumes the gradual implementation of measures to establish heat distribution enterprises in the regions of the company's operations. Currently, the heat grid companies, subsidiaries of JSC "Quadra - Power Generation" work in Belgorod, Orel, Smolensk, Voronezh, Tambov, Kursk and Ryazan.

Spinning-off of the heat grid assets as individual enterprises allows to improve quality of heat supply of consumers, transparency of the business economy and efficiency, and will also help to attract investments in this sector of engineering.

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