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.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.