OREANDA-NEWS. February 2, 2009. Inter RAO UES and Union Electrica (Cuba) have agreed to set up a joint venture for cooperation in the fields of thermal and water power engineering, Vice Premier of Russia Igor Sechin said after Russian-Cuban negotiations in the Kremlin on Friday.

The press service of Inter RAO reports that, as a pilot project, they will modernize and enhance the capacity of Maximo Gomez TPP (600MW) in Mariel.

The JV will operate and modernize the existing units of the plant and build new ones. It will also supply necessary equipment and materials.

The electricity to be produced by the plant will be sold at wholesale prices by the Cuban National Electric System.

In the future the JV may also implement other investment projects: construction of small water power plants, delivery of power equipment, development of networks.

Earlier, Director General of Inter RAO UES Yevgeny Dod said that his company was planning to enter the markets of Latin America: Cuba, Venezuela and Nicaragua.