Russian energy and metals holding En+ (MOEX: ENPG), a leading global producer of low-carbon aluminum and renewable energy, traditionally announces the company's key achievements of the outgoing year. In 2024, En+ began construction of new energy facilities, continued modernization and environmental projects, and developed infrastructure in its regions of responsibility.
Covering Siberia's Energy Deficit
In 2024, En+ participated in competitive selections for the construction of new generating capacities to cover the energy deficit in southeastern Siberia. As a result, three of the holding's projects were selected for the construction of power units at CHP-11 in Usolye-Sibirskoye (Irkutsk region). The total capacity of the facilities will be 690 MW, with commissioning scheduled for 2028-2029. Investments will amount more than 150 billion rubles ($1.46 billion*). The new power units will operate on Russian-made equipment, which is important both for implementing En+'s import substitution policy and for developing Russia's machine-building industry.
Hydropower Development
At the Eastern Economic Forum, En+ and the government of the Republic of Buryatia signed an agreement on interaction and cooperation in implementing the Moksky hydroelectric complex construction project. It involves the construction of two hydroelectric power plants — Mokskaya and its counter-regulator Ivanovskaya HPP. The prospective capacity of the stations will be 1200 and 210 MW respectively. The hydroelectric project is aimed at developing the economic potential of Buryatia, increasing investment attractiveness and employment level in the region, ensuring energy supply, improving water supply and ecology of the republic. En+ sees great interest of the Republic of Buryatia and Governor Alexey Tsydenov personally in the implementation of the project. Thus, on the request of the head of the region, a working group has been set up, which is currently working on the project. At the same time, in 2024, the General Scheme of Electricity Facilities Location until 2042 was published, which included HPP and SHPP projects with a total capacity of 9 GW. In addition to Mokskaya and Ivanovskaya HPPs, En+ is ready to commit to the construction of Telmamskaya HPP (450 MW) and Krapivinskaya HPP (345 MW).
Modernization of Energy Facilities
In 2024, En+ has maintained the pace of implementation and investment in the "New Energy" modernisation programme. The group's hydroelectric power plants continue replacing main equipment, including runner wheels. The modernisation of energy facilities has already increased annual generation by 2.2 billion kWh with a comparable volume of water used, and prevented the emission of 2.5 million tons of greenhouse gases from coal-fired power plants. In the outgoing year, En+ completed the first stage of Irkutsk HPP modernisation, during which 4 out of 8 hydraulic units were replaced at the station. Along with this, one runner wheel each was replaced at Krasnoyarsk and Bratsk HPPs. Overall, 21 billion rubles ($204 million*) have been allocated for program implementation until 2026 (including amounts already invested). The company also continues the CHP modernization program aimed at improving the environmental situation in the regions.
Development of the coal sector
En+ continues developing the Zashulanskoye and the Cheremkhovskoye coal deposits in Siberia. En+ will allocate 2 billion rubles ($19.4 million*) for modernizing eight walking excavators over seven years. The first to undergo deep reconstruction will be the excavator ESh 15/90, which will have its walking system and electric drive control replaced, and a centralized lubrication system installed. The work will allow development of new production sites at En+'s coal deposits.
Currently, the company is working on opportunities and sites to increase production and provide prospective energy facilities with fuel, increase exports and develop the coal-chemical sector.
Expansion of Electric Vehicle Charging Station Network
En+ holding is interested in developing electric transport in Russia and is creating appropriate charging infrastructure for this purpose. In 2024, the company doubled its EV charging station network and installing 18 new stations. 17 charging stations are being installed in Irkutsk and its suburbs, and one more in Angarsk. Each station's power will be 150 kW, allowing for "fast" charging sessions. The stations will be equipped with all types of connectors used by the most popular electric vehicle models. When selecting station locations, an analysis of the most popular travel routes of Irkutsk and Angarsk residents was conducted. This will enable maximum effective use of the charging stations.
Total investments in the project implementation will amount to about 70 million rubles ($680,000).
HPP Certification
En+ has been supporting for many years the position that hydropower plants, including large ones, are a low-carbon source of electricity. To confirm this, the company initiated measuring greenhouse gas emissions from the Angarsk cascade HPPs reservoirs – Irkutsk, Bratsk, and Ust-Ilimsk. The study used the International Energy Agency's methodology "Guidelines for Quantitative Analysis of Net GHG Emissions from Reservoir." The study showed extremely low emissions - from 1.8 to 7 grams of CO2 per kWh, which is not only below the emissions of other types of conventional generation, but also below the average values of the world's boreal reservoirs. The correctness of the calculations was confirmed in 2024 by a corresponding certificate issued by international company TÜV Austria. Thus, En+ became the only company in the country to receive international certification for hydroelectric generating facilities.
Moreover, En+ has qualified the company's four hydropower plants in the National Low Carbon Electricity Certification System. This will enable the issuance of so-called generation attributes (renewable energy certificates), confirming the low carbon footprint of the electricity produced, and subsequently selling them to companies and individuals interested in reducing their environmental impact
On the Path to Carbon Neutrality
En+ holding maintains plans to achieve carbon neutrality by 2050. The company presented its achievements toward this goal in its third carbon neutrality report, which was presented during a business breakfast with analysts, experts, and investors.
For the holding's energy segment, whose portfolio is already 80% represented by low-carbon energy sources, priority decarbonization directions include not only implementing energy-efficient technologies, constructing new generating facilities – hydro and wind power plants, modernising operating HPPs under the "New Energy" programme, but also expanding the use of various tools designed to provide access to "green" energy for Russian industrial enterprises. Among such tools are so-called green certificates, in which the holding is the undisputed leader in sales volume on the Russian market in 2023.
Regarding the Group's metallurgical segment, energy-efficient technologies and cutting-edge approaches to greenhouse gas capture are being implemented at alumina division enterprises, while aluminum plants are expected to transition to pre-baked anode technology, which will also significantly reduce greenhouse gas emissions.
Baikal Protection
Protection of Lake Baikal, preservation of its unique biodiversity and ecology is an important area of focus for En+. Therefore, the company has been conducting the "360" volunteer campaign for 14 years. In 2024, it united more than 5,000 people from across Russia who, from May to October, collected more than 186 tons of garbage from an area comparable to 334 football pitches. In addition, they handed in about 6 tons of recyclable materials and over 120 kg of batteries for recycling and disposal.
Moreover, En+ presented to the Russian Academy of Sciences the results of Baikal eco-monitoring, which has been conducted since 2019 by scientists from the country's leading universities with the company's support. The work aims to identify, study, and find sources of threats to the lake's ecosystem.
The Baikal Plastic Free Alliance, founded on En+'s initiative, conducted its second expedition in 2024 to lift plastic fishing nets from Baikal's bottom. During the week-long expedition, more than 4 km of nets were lifted, along with 400 kg of other waste, including a quadcopter, camera lens, anchor, rubber mats, metal and plastic dishes, and much more.
Cultural Development
In the outgoing year, En+ became a partner in numerous cultural events and activities connected with its regions of responsibility. Among other things, the company advocates for promoting reading as a means of leisure and education. With the holding's support, the nationwide "Biblionight" (Library Night) action took place, during which the country's libraries open their doors on weekend evenings and transform into multi-format cultural venues hosting concerts, artistic readings, open discussions, meetings with cultural representatives, and other events. Also, En+ and "Elena Shubina's Editorial Board" published a collection of stories "A Miracle in Anticipation," which includes stories and essays by 15 contemporary Russian authors.
En+ tries to draw attention to the need to protect Baikal lake through art. For this purpose, the company organizes the festivals as "Jazz on Baikal", which for many years has brought leading Russian and foreign representatives of musical art to the capital of the Baikal region, as well as "Ballet on Baikal," whose program includes performances by leading Russian and foreign ballet artists.
En+ also became the general partner of several art projects directly related to the company's assets. For example, the exhibition of Viktor Popkov — one of Russia's leading art masters of the 20th century — at the Tretyakov Gallery in Moscow. In Irkutsk, in cooperation with the Bronstein Gallery, an exhibition “Energy Foreshadowed” which reflects the interaction between human beings and energy, is opening. In Nizhny Novgorod, with En+'s support, the international media art festival INTERVALS was held. Its concept involves transforming dozens of city locations and buildings into media installations. Together with Moscow's Nekrasov Library, a special project was launched, dedicated to the 70th anniversary of the start of Bratsk HPP construction. The project is based on extensive research of sources, dozens of interviews and literature devoted to the heroic construction.
The company also held "Energy+" and "Food+" festivals in Irkutsk, Bratsk, Divnogorsk, and Nizhny Novgorod, which became centers of attraction for residents of the regions, uniting tens of thousands of people.
En+ — Leader in Russian Rankings
The Group's efforts to develop its business and regions of responsibility are increasingly recognized by the expert community. Thus, for the second year in a row, Forbes Russia magazine included the company among the largest investors in the Russian economy and awarded the highest rating — "Platinum" — in the country's best employers ranking.
The holding's top managers were included as winners in the annual "Top-1000 Russian Managers" rating by the Russian Managers Association.
En+'s achievements in ESG were also noted by the National Rating Agency (NRA), which placed the holding in 1st place in the ESG ranking of Russian industrial sector companies, as well as the award "For Contribution to Achieving National Goals," which is awarded to leaders of the ECG rating ("Ecology – Personnel – State"). The rating is a comprehensive assessment of companies, determining contributions to achieving Russia's national development goals, its reliability level, and social and environmental responsibility.
