E4 Group sank a generator for Serov GRES in the port of Rotterdam

If the company goes bankrupt, Gazpromenergoholding will have zero chances for getting the money for the generator back.
Generator for the Serov GRES 420 MW with an overload in the port of Rotterdam fell into the water and drowned, said the general director of "Gazprom energy holding" Denis Fedorov (according to "Interfax" quote). In his words, the generator for a long time lay at the bottom, and "of course, is not subject to any operation." "Inter RAO" is trying to recover from the PSB 1 billion rubles.

Delivery, according to him, was engaged in group E4. OGK-2 (Serov GRES owner, is part of "Gazprom energy") has made an advance payment for the power unit, and is now trying to collect the money in arbitration: in early February filed suit to E4 at 3.8 billion rubles. due to late delivery. The representative of OGK-2 said that this means for the whole "power island" power unit (generator, gas turbine and steam turbine). Formally owned unit E4 contract it passed into the ownership of OGK-2 after delivery to the site, said the representative of "Gazprom energy." A source in the E4 declined to name the company, which was insured unit, but noted that there were several, including foreign insurers. Appearingrer E4 declined to comment.

Problems in the construction of power units in OGK-2 E4 has occurred. In spring 2009, OGK-2 has decided to terminate the contract for the construction of two combined-cycle units at the Stavropol TPP, alleging default under the E4, and demanded to return an advance of 8.8 billion rubles. The contractor claimed that the failure of the timing to blame the customer, who has repeatedly asked to stop work. The Court took the side of the E4. But the parties entered into a settlement agreement under which the contract for the Stavropol TPP was dissolved, and instead awarded a contract to E4 two power Serov GRES worth about 15.5 billion rubles. (8.8 bn. Have been offset in the cost). However, the first unit of E4 is not completed, and a generator for the second - drowned.

The first unit completes Serov GRES "daughter" OGK-2 "OGK-investment project", with the E4 contract terminated, said the representative of the generating company. According to Fedorov, the first unit will be launched before the end of the year. The first unit on the PDM to be introduced in September 2015, the second - in 2017, so the timing is not thwarted by him, in spite of the claimoblemy with the contractor, says the WGC-2. According to Fedorov, the second unit of the company may give up on it and the PDM can be transferred to other projects, the need for which may arise in the 2023-2025 biennium.

From the beginning, the group E4 filed more than 100 lawsuits in the Court of Arbitration, seven companies need to recognize it bankrupt, the general requirements exceed 18 billion rubles. Unit risks to go into the bankruptcy estate, Fedorov said. Bankruptcy proceedings against E4 has not yet announced, but "Gazprom energy" believes that the prospects return the funds if the E4 goes bankrupt, no.