OREANDA-NEWS. On 02 June 2008 was announced, that JSC Irkutskenergo is going to carry out the "North" infrastructural project even if it does not receive support from the Investment Fund of the Russian Federation. This was reported by General Director of EvroSibEnergo company Sergey Emdin (manages a large share holding of Irkutskenergo).

Now, according to Emdin, Irkutskenergo Company continues to prepare an application to the Investment Fund. 'I think within this year the issue will be developed together with investment consultants, and we shall make an application,’ Emdin said. 'We do not want to make an application for the sake of appearance. We should be completely sure that the application will be passed'. If the Investment Fund does not approve the project, the infrastructural project of Irkutskenergo will be carried out at lower voltage basing on more local solutions. Thus, Sergey Emdin does not exclude the possibility that some large consumers which develop the business in the north-east of the Irkutsk area can face a problem of power deficiency. 'Maybe they will not be able to develop their business at full capacity, like it was possible at full development of grid facilities,' General Director of EvroSibEnergo said.

Let us remind that within the limits of the "North" project, construction of the system forming main lines and substations of 500 kV in the north of the area is supposed. Realization of the project will contribute to development of the interregional network infrastructure. Total amount of investments is 30.6 billion rubles. The time of return on investment is 10 years. The "North" program also stipulates development of generation. The following facilities are planned to be constructed for this purpose: 300 MW capacity gas turbine station in the Ust-Kut area with an opportunity of expansion of up to 600 MW; 900 MW capacity gas steam station in Irkutsk; 990 MW capacity coal thermal power station in the Tulun; expansion of K-330 block of the Novo-Ziminskaya Thermal Power Station. Total amount of investments for construction of these facilities is 96.5 billion rubles. The time of return on investments is 15-20 years.