Russian power producer RusHydro is seeking government financial guarantees to complete the Krapivinskaya hydroelectric plant, the final major unfinished power project from the Soviet era. Chief Executive Viktor Khmarin said the company requires a mechanism to ensure a return on investment – such as a capacity supply agreement or other capital expenditure funding – before work can resume in the Kemerovo region of Siberia.
The project on the Tom River is currently estimated at 60 percent completion. Construction originally began in 1976 but was suspended in 1989 following a funding shortfall. Modernized plans for the facility propose increasing its capacity from the original 300 megawatts to 345 megawatts by using more efficient turbines and generators.
RusHydro officials have indicated that the plant could be operational within five years of a formal government decision to transfer the project. A federal resolution is required to determine the sources of funding for both the power station construction and the preparation of the surrounding reservoir area.
The completion of the Krapivinskaya site has drawn interest from other industry players, including En+ Group, which previously explored feasibility studies for the site. Financial estimates for the project have fluctuated, with a 2021 assessment by former regional governor and current Energy Minister Sergey Tsivilev placing the cost at 45 billion rubles. A final decision on the financing structure and project operator remains under review at the federal level.
