SPIEF-2019: St. Petersburg and TGC-1 sign a cooperation agreement for the implementation of CHPP upgrade projects by the power company in St. Petersburg

On 8 June 2019, as part of the Saint Petersburg International Economic Forum the St. Petersburg Government and TGC-1 signed a cooperation agreement for the implementation of CHPP upgrade projects by the power company in St. Petersburg.

Both parties expressed their interest in implementing strategic initiatives aimed to improve reliability and efficiency of power supply to 1.5 million citizens in five city districts.

The upgrade projects include renovation of TGC-1's Avtovskaya CHPP along with construction of a technical water recycling system and upgrade of the heat supply system of Centralnaya CHPP, as well as construction of a water-heating boiler facility.

The term of the investment projects implementation is up to 2029.

For reference:

TGC-1 is a leading producer and supplier of electricity and heat in the North-West of Russia. TGC-1 comprises 53 power plants within four constituent entities of the Russian Federation: St. Petersburg, the Republic of Karelia, and Leningrad and Murmansk Oblasts. Ten CHPPs located on the territory of St. Petersburg and Leningrad Oblast supply heat to citizens and enterprises of the city.

The Company's share on the heat power market of St. Petersburg exceeds 50%.

Avtovskaya and Centralnaya CHPPs ensure electricity and heat supply to citizens and enterprises of the Admiralteysky, Moskovsky, Kirovsky, Krasnoselsky and Tsentralny Districts of St Petersburg.