Inter Rao, a Russian vertically-integrated power supplier, is to work with VTB Bank on international energy projects, after the Russian bank’s CEO and chairman, Andrei Kostin, signed a cooperation agreement with the general director of Inter Rao, Evgeny Dod.

Under the terms of the agreement, VTB will participate in the financing of Inter Rao’s current activity and investment projects, and will act as a priority partner in arranging loans in domestic and international markets.

Inter Rao has over 20 companies operating in 14 countries, and is one of the key players in the export and import of electric power in Russia. In July this year it started to export electric power supplies to Romania for the first time in just over 20 years from the Moldavskaya power plant.

It has also been reported in Russian press that French utility company EDF is in talks about the possibility acquire a minority stake in Inter Rao.