Khachaturov's fire: billionaire insured the burnt Berezovskaya GRES

Danil Khachaturov's Rosgosstrakh faces insurance payments.
17.02.2016
Forbes
Origin source
February 1, 2016 at 3:45 in the third 800-megawatt power unit at Berezovskaya GRES-controlled Russian division of the German company the E.ON, there was a huge fire. The company, launched in the autumn of last year (the grand opening of the unit on 1 December 2015), was extinguished about a hundred people and more than 10 units of special equipment. Nevertheless, the station, which has been invested about € 1 billion, enormous damage has been done.

As it became known to Forbes, the group "Rosgosstrakh" Danil Khachaturov could face one of the largest payments on insurance contracts. The company "Capital Insurance" (part of "Rosgosstrakh" Group) Khachaturov insured Berezovskaya GRES by construction risks, fire, disaster, damage of machines and assembly work, say sources close to "E.ON.Rossiya". In "Rosgosstrakh" declined to comment.

The exact size of payments today are not known, since February 8 at the TPP working committee to assess the damage, which was composed of representatives of Rostekhnadzor and insurance companies. "The equipment is properly insured against construction risks, riskss fire, disaster, damage cars, respectively experts of insurance companies to figure out the circumstances of the accident to the qualification of the insured event and to determine the boundaries of responsibility ", - said the" E.ON.Rossiya ".

The analyst "VTB Capital" Michael Rasstrigin in a note about the possible consequences of the accident said that the worst-case scenario with a loss recovery boiler takes 18 to 24 months, will require 8-10 billion of additional investment and may result in the loss of about 22 billion rubles, the company's income in over the next four years. According to the latest data, as a result of fire damage to the largest boiler metal was applied, much of which must be replaced.

Analysts Gazprombank reported that after the incident, "E.ON. Russia "lost in the capitalization of 19.5 billion rubles, which is roughly equivalent to the expected damages subject to payment of insurance and rehabilitation unit within a year.

Chief Investment Officer "TKB Investment Partners" Vladimir Tsuprov says that initially the market ignored the message of fireon the block due to insufficient information - the company did not comment on the incident, the media were silent, and Ministry of Emergency Situations has closed access to the facility. "After consulting with experts from the industry, we came to the conclusion that the damage is significant and there is a risk of disposal unit for a period of up to one year and losses of tens of billions. Precisely because of this we started the sale of shares in the first hours after the accident (TCB - a large minority shareholder "E.ON. Russia» - Forbes.). At the same time, the market had a lot of buyers who want to pick stocks. It was only released a week later the company's press release about the substantial damage to the forecast recovery periods from 1 year to 2 years caused a collapse of quotations, "- says Tsuprov.

"E.ON. Russia "doubts the possibility of restoring the block before the end of 2016. "In this connection, with high probability it can be argued that the unit is at least in the current year will not be launched. This means that the company may lose a significant part of the capacity payment for the 3rd Berezovskaya GRES unit after an emergency stop, "- said in a press release.

The accident at Berezovskaya GRES & ndash; one of the largest on the consequences for the country's energy system, from the case after the accident at the Sayano-Shushenskaya HPP (insurance payments amounted to about $ 200 million). According payments accident at TPP (in ruble terms) can come close to the largest insurance event in recent years - a fire at the Achinsk refinery "Rosneft" (insurance loss on him amounted to $ 800 million). The case at Berezovskaya GRES should surpass the payments the insured event occurred May 16, 2014, as a result of an accident during launch rocket "Proton-M" satellite "Ekspress Am4r" was lost - according to the data of Allianz, the loss amounted to $ 217 million.