RIA Novosti reported that Russian-British joint venture TNK-BP is considering setting up a joint venture with an investor or partner to develop its power generation assets.

TNK-BP is going to hold a special conference for investors and possible partners on July 11 where the company will present its program to develop power generation assets.

The company said "TNK-BP is ready to give up to 75% to a future joint venture and guarantee yield on long-term contracts on gas supplies and electricity sales. The company itself will be a core consumer of generated electricity. TNK-BP also does not rule out adding to the current electricity power plants in the venture."

TNK-BP own power generation assets are a key long-term company priority. TNK-BP will invest from USD 1.2 billion to USD 3 billion to 2020 to build 550 MW to 1,800 MW electricity power stations and attracting partners is seen as a key step to reducing costs for these projects.

Source - RIA Novosti

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