At an energy forum in Kyiv yesterday, Zakhidenergo (ZAEN: BUY) CEO Petro Omelyanovskiy said that the company is considering having its subsidiary, JSC Dobrotvir Thermal Power Plant-2, conduct an additional share issue. Proceeds are planned to be spent on the construction of new power units at Dobrotvir TPP. The company Dobrotvir TPP-2 was established in 1998 as a subsidiary of Zakhidenergo to construct and operate new power units (yet to be constructed units #9, #10 and #11 at Dobrotvir TPP). Alexander Paraschiy: Zakhidenergo is once again looking for ways to finish construction of a 225MW unit#9 at Dobrotvir. The unit’s construction was frozen in the mid-1990s due to a lack of financing, and Zakhidenergo has been seeking to resume the project for the last 4-5 years. As Zakhidenergo has been unable to find appropriate debt financing of the project, an additional share issue by JStC Dobrotvir TPP-2 looks like one of the most realistic ways to secure financing. The estimated cost of finishing the construction of Dobrotvir’s power unit #9 is USD 190-200 mln.