National Welfare Fund Receives Request from Russian Ministry of Energy
The capital requests are coming in from the government. The Russian Ministry of Energy has requested 35 billion roubles (US$ 1.055 billion) from the National Welfare Fund (NWF), one of Russia’s sovereign funds. Russia strategically desires to develop energy infrastructure in Russia’s Far East. The capital would allow RusHydro, a Russian utility company, greater flexibility to advance the Far Eastern power grid. As of March 31, 2013, the government of Russia owns 60.5% of total voting ordinary shares in RusHydro.
In 2012, the government of Russia augmented RusHydro’s capitalization by 50 billion roubles. This capital was for constructing four heat-generation facilities in Russia’s Far East.
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