OREANDA-NEWS. July 20, 2010. En+ Group announces the appointment of Evgeny Fedorov as Chief Executive Officer of Russia's largest independent power company OAO EuroSibEnergo, a decision approved by the Company's Board.

Evgeny Fedorov will also remain CEO of OAO IrkutskEnergo, which is one of the core assets of OAO EuroSibEnergo and in which EuroSibenergo holds a controlling stake. This management model is expected to increase the efficiency of the operations of EuroSibEnergo and IrkutskEnergo, developing stronger synergies and improving the use of water, by creating a single management centre for four of the Angara-Yenisei cascade HPPs (Bratsk HPP, Ust-Ilimsk HPP and Irkutsk HPP, which are held by Irkutskenergo, and Krasnoyarskaya HPP, in which EuroSibEnergo holds a controlling stake).

Andrey Likhachev, the Chairman of the Board of Directors of EuroSibEnergo and the Deputy CEO of En+ Group, commented on the appointment: "Evgeny Fedorov is a high class professional who has over 9 years of experience in the energy industry and in leading major investment projects. He has a good knowledge of EuroSibEnergo's business and assets. EuroSibEnergo is one of the leaders in the Russian energy sector in terms of efficiency, reliability and energy production costs. I am confident that Evgeny Fedorov will provide robust leadership to the company in its dynamic development to further strengthen its position in the industry".

Evgeny Fedorov comments: "EuroSibEnergo's key assets are strategically situated in the East Siberian region, which is expected to undergo active development in the coming decades. Our objectives are to implement state-of-the-art technologies in order to secure stable power supplies to the growing economy, to develop best corporate governance practices and to ensure that we contribute to social development in the regions where we operate".