The construction of two new power units at Ulan-Ude TPP-2 has been suspended due to lack of funding. The decision was made by the generating company TGK-14, which intends to focus available funds on maintaining current operations.
The company's board of directors instructed management to limit funding for investment projects that passed the competitive selection of capacity for new generating facilities. By July 15, the management must present an analysis of the consequences of a complete halt to construction and submit this issue for consideration by the board of directors.
The expansion of Ulan-Ude TPP-2 involves the commissioning of two new power units. Although the total capacity of the projects in the tenders was 155 MW, the company later announced plans to increase the figure to 200 MW. The new capacities were supposed to reduce the electricity deficit in southeastern Siberia.
Over the past year, the project cost has sharply increased. While in the 2024 financial statements, construction was estimated at 31.8 billion rubles, by 2025, the estimated amount reached 65.5 billion rubles. At the same time, TGK-14's own financial performance significantly worsened: net profit under RAS decreased by 3.6 times and amounted to 461 million rubles.
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