OREANDA-NEWS. OJSC Territorial Generating Company #2 chose OJSC Power Machines as equipment supplier for the implementation of 3 main investment projects, the press service of TGC-2 reported. The purpose is enlargement of three CHPPs (Tver CHPP-3, Kostroma CHPP-2, Yaroslavl CHPP-2) with gas turbine installations of 160 MW each.

The TGC-2 Board of Directors has advised a general shareholders meeting, which is set on December 5, 2007, to approve a relevant contract with Power Machines. The planned amount of the transaction equals RUB 4.124 bln.

It should be noted that OJSC Power Machines will supply OJSC TGC-2 with one more Gas-Turbine Unit (GTU-100), under a lease agreement for the enlargement of Novgorod CHPP.

Also, the TGC-2 Board of Directors approved an agreement with OJSC Power Machines for reconstruction of existing turbines (PT-60-130-13), for implementation of the 4 investment projects providing for an enlargement of the above mentioned CHPP with gas-turbine units.

Besides, TGC-2 is going to implement the project of Novgorod CHPP enlargement with 120MW steam turbine, a project of construction 95 MW combined cycle gas turbine at Vologda CHPP and a project of enlargement Tver CHPP-3 with a steam turbine of 115 MW. All these projects are integral parts of the Company Investment Program till 2011 and they had been approved by relevant TGC-2 Board of Directors' resolutions.

TGC-2 plans to install 1145 MW of new capacities by 2011. Investment Program size is estimated to be RUB 38.9 bln. It is planned to attract RUB 9 bln of them by means of fetting proceeds from an additional share issue, which is to be conducted till March 20, 2008. TGC-2 has already chosen financial and legal consultants for this purpose.