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RusHydro May Sell 7.9% Stake to China Yangtze, Enel, Kommersant Reports

OAO RusHydro, Russia’s biggest producer of renewable energy, held talks with China Yangtze Power Co. and Italy’s Enel SpA (ENEL) to sell a 7.9 percent stake, Kommersant reported.

The company also had negotiations with Spain’s Iberdrola SA (IBE), France’s Electricite de France and China State Grid Corp. as the government prepares to sell the stake in RusHydro in 2013, the Russian newspaper reported, citing a company official with knowledge of the matter. RusHydro is expected to make a decision on the sale in the first half of 2012, according to Kommersant.

Enel is not interested in acquiring the stake, a spokeswoman for the Rome-based utility, who declined to be identified citing corporate policy, told Bloomberg by phone, confirming an earlier comment to Kommersant. The other potential bidders declined to comment, the newspaper said.

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To contact the reporter responsible for this story: Denis Maternovsky at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Torrey Clark in Moscow at tclark8@bloomberg.net.

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