23.01.2012
IDGC of the North-West investment program includes 364 investment projects. The planned volume of IDGC of the North-West, JSC investment program for 2012 is 5,204.4 mln RUR. The portion of new construction is 34% of the total investment volume. IDGC of the North-West investment program was assumed as the backbone of the approved business plan of the Company for 2012 at the in-praesentia session of the board of Directors of the Company that took place in Moscow on January 20, 2012.
In 2012, IDGC of the North-West plans to bring its capacities volume and transmission lines extension to 348.27 MVA and 818.67 km accordingly.
Among the main items on 2012 investment program are 9 large-scale projects and 2 investment projects for generation capacity output, their portion in the total CAPEX volume being 19%. All in all, IDGC of the North-West investment program includes 364 investment projects.
Within the framework of electric power grid assets consolidation in 2012, IDGC of the North-West, JSC investment program plans allocation of 54.6 mln RUR for new purchases including 307.1 km of transmission lines and 21.2 MVA of transformer capacities as well as land plots with an area of 0.3 ha with registration of the property right to the latter.
Characteristic of IDGC of the North-West investment program for 2012 is NPV equal to 3,532 mln RUR. Deputy General Director for Investment of IDGC of the North-West, JSC Sergey Titov gave a detailed explanation of the economic efficiency calculation methodology.
“Adopted within IDGC of the North-West is a unified methodology of investment project efficiency calculation. A detailed analysis of each investment project impact on the investment portfolio inter alia is performed with a view of excluding double count of capacity loading plan. All calculations are carried out within a unified software product customized with account for the electric power industry complex. Effect of the regulator on the investment portfolio composition is taken into account. Aiming to improve the system, we began using the portfolio formation function. This enables prompt project grouping, identification of most efficient compositions, calculation of advantages and losses associated with shift of projects. We view calculation per title, per branch and within the Company as a whole. Notably, it is one person performing calculations for all the branches, which is an economically efficient solution in itself”, Sergey Titov said.
“When creating investment portfolios of the Company, feasibility of capital investment into a project is analysed in terms of the profit element and the cost of ownership. The profit element of a project is represented by augmentation of capacity or transmission capacitance or reduction of operational expenditures. Into the cost of ownership we include, for instance, the facility maintenance and lease rents. For evaluation of the project resistance to external and internal risks one also undertakes analysis of sensitivity of each investment project of IDGC of the North-West. All these things enable achievement of transparency and impartiality of investment activities evaluation for regions and investors, execution of self-control and optimization of interaction between multiple structural subdivisions of the Company during investment portfolios formation and implementation”, noted Sergey Titov.
