MOSCOW, February 9 (RIA Novosti) - The board of directors of Unified Energy System [RTS: EESR] has approved a long-term project aimed at boosting electricity exports to China, the Russian monopoly said Friday.
UES said export volumes will be raised on a stage-by-stage basis, by developing power generating capacity in Russia's Far East.
During the first stage, due to start in 2008, UES plans to export 3.6-4.5 billion kWh per year.
In the second stage, until 2012, power supplies will be increased by 18 billion kWh each year, and in the third stage, exports will rise by another 38 billion kWh annually.
The UES Board of Directors also approved the establishment of a 100% subsidiary, Vostochaya Energeticheskaya Kompaniya (East Power Company), which will ensure the project's implementation.
