No bids received for Russia power plant tender

Russia‘s energy ministry has reportedly received no bids in a special-terms tender to build a power plant on the country’s southern Taman peninsula.à‚ 

The peninsula is close to Crimea and Russia recently began building an $830m undersea power cable to connect its southern Krasnodar region, which the plant is planned to supply, with Crimea.

Citing unnamed industry sources, the Reuters news service said the Russian branches of European energy companies including E.ON, Enel and Fortum had declined to participate over fears that some of the plant’s power would be supplied to Crimea. EU sanctions imposed after Russia’s annexation of Crimea prohibit European investment in infrastructure projects in Crimea, including in the energy sector.

According to Reuters’ report, the tender was offered under terms that would guarantee a profit margin for 15 years ” terms that Russia is currently phasing out.à‚ 

Reuters said spokespeople for Fortum and E.ON declined to comment.

Details of the plant were not given. à‚ 

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