UES was offered to join the E7 in 2001, when its chief executive, Anatoly Chubais, attended the group's summit in Italy. The company is expected to gain full E7 membership in 2006, simultaneously with Russia becoming a full-fledged member of the Group of Eight leading industrialized nations.
The establishment of partnership between UES and the E7 ushers in a historic stage in cooperation between industrially developed countries, which is aimed at sustainable, environmentally safe economic development on the global scale, CEO Chubais is quoted as saying after the deal was signed.
Harry Roels, President and CEO of the German electricity company RWE, which holds the rotating E7 presidency this year, hailed UES' accession, noting that it is one of the world's largest producers of electrical power and that it provides employment for close on 600,000 people.
"UES will bring into the E7 fresh energy and expertise, providing additional resources to enhance our common influence on sustainable, environmentally safe development and to struggle poverty on the global scale," Mr. Roels pointed out.