Support The Moscow Times!

Aussie-Russian Fund Invests

The Macquarie-Renaissance Infrastructure Fund jointly owned by Renaissance Capital and Australia's Macquarie has invested $83 million in power group GSR Energy Investments — its second deal since its formation in 2008.

The fund, with $630 million under management, has now invested more than $200 million in Russian transport and power assets.

GSR Energy supplies heat and electricity to industrial customers in St. Petersburg's Kolpino industrial region. Power industry experts estimate that some $400 billion to $500 billion needs to be spent modernizing Russian equipment to prevent blackouts and accidents such as the Sayano-Shushenskaya power plant explosion that killed 65 people in 2009.


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.