En+

What En+ does

En+ Group IPJSC (MOEX: ENPG, formerly LSE: ENPL until November 2024) is a Russian-domiciled, publicly listed holding company that operates as a vertically integrated producer of low-carbon primary aluminum and renewable electricity, founded in 2002 with approximately 95,000 employees across more than 60 enterprises on five continents. The Group is organized into two segments: a Metals segment, operated mainly through wholly-owned subsidiary RUSAL, encompassing 11 aluminum smelters with combined capacity of approximately 4.2 million tonnes per year, alumina refining at Aughinish Alumina in Ireland (Europe's largest refinery), bauxite mining, and the proprietary ALLOW low-carbon aluminum brand; and a Power segment, operated through LLC EuroSibEnergo and majority-owned Irkutskenergo, encompassing five large hydroelectric plants on the Angara and Yenisei cascades totaling 15.2 GW of installed capacity (including three among the world's 20 largest HPPs), 15 thermal power plants (4.3 GW), 1 GW of prospective wind capacity, and coal mining operations across four Russian regions with combined reserves of 1.3 billion tonnes and annual production of 17.4 million tonnes.

The business model is built around a structural cost and carbon advantage: captive Siberian hydropower feeds directly into RUSAL's aluminum smelters, yielding an industry-low carbon footprint of approximately 2.5 tCO2e/tAl. Primary aluminum and alloys are sold globally through the London Metal Exchange, with traceability supported by the LMEpassport platform co-developed with RUSAL since 2019. The Power segment sells electricity, capacity, and heat to the Russian wholesale market, regional grids, and industrial offtakers under regulated tariff frameworks, and is Russia's first and leading issuer of International Renewable Energy Certificates (I-RECs). The Group monetizes its low-carbon positioning through ESG certifications (TÜV Austria HPP certification, ASI membership, CDP A- for RUSAL, CCXGF A- ESG rating), climate-advocacy leadership (UNFCCC COP26, BRICS Business Council, Race to Zero, WBCSD), and decarbonization commitments (net-zero by 2050, 35% reduction by 2030 versus 2018 baseline, SBTi-submitted pathway). Strategic priorities include the "New Energy" HPP modernization programme, the greenfield Moksky hydroelectric complex in Buryatia, commercialization of inert-anode smelting technology, the Multi-Lab educational platform across seven Russian cities, and digital transformation through 2027.

Revenue is generated across five primary streams — primary aluminum and alloy sales, alumina and bauxite sales, electricity generation and capacity sales, regulated heat supply, and coal sales — with the Metals segment the dominant contributor. FY2025 revenue was USD 17,703 million, up from USD 10,356 million in 2021. The Group is the parent of RUSAL (wholly owned since 2003), majority owner of Irkutskenergo (since 2006), and holds a 25%+1 share stake in Norilsk Nickel via RUSAL. Governance includes a substantial cohort of independent directors on the Audit and Risk, Compliance, Corporate Governance, Nominations, Remuneration, and HSE committees, and an ESG rating of A- from China Chengxin Green Finance Technology (February 2025).

Name

En+

Legal name

IPJSC EN+ GROUP

Website

https://enplusgroup.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

En+ Group is a Russian vertically integrated producer of low-carbon primary aluminum and renewable electricity, operating 15.2 GW of hydropower and 4.3 GW of thermal generation alongside 11 aluminum smelters (~4.2 Mt/year) through subsidiaries RUSAL, EuroSibEnergo and Irkutskenergo, and serving global industrial buyers and Russian regional utilities.

Ownership category

akta.pro rank

Product category

Primary Aluminium Manufacturing

NAICS

Alumina Refining and Primary Aluminum Production (331313), Other Aluminum Rolling, Drawing, and Extruding (331318)

SIC

Primary Production Of Aluminum (3334)

akta.pro primary industry

Primary Aluminum Smelting (IMAKACAC)

akta.pro secondary industry

Aluminum Project Development, Engineering & EPC (Smelters/Refineries) (IMAKACAO)

Keywords

• Primary aluminium production
• Low-carbon aluminium
• Hydropower generation
• Alumina refining
• Renewable energy certificates

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Primary aluminium and alloys sales: Sales of primary aluminium, alloys and value-added low-carbon aluminium (ALLOW brand) from 11 aluminium smelters globally to industrial customers; reported as primary revenue driver of the Metals segment.
2. Alumina and bauxite sales: Sales of alumina (including from Aughinish Alumina in Ireland, Europe's largest refinery,) and bauxite produced by the Metals segment to third parties and internal smelters.
3. Electricity generation and capacity sales: Sales of electricity from 5 hydropower plants (15.2 GW installed), 15 thermal power plants (4.3 GW installed) and 5.2 MW of renewables to the Russian wholesale market, regional grids, industrial offtakers and (via I-RECs) to corporate green-energy buyers.
4. Heat supply: Heat supply to regional consumers from CHP portfolio (notably Teplovoy Luch thermal main in Irkutsk, the largest project in Russian thermal power in the last half-century), providing a regulated, recurring utility revenue stream.
5. Coal sales: Coal mining across 8 sites in Irkutsk region, Krasnoyarsk and Zabaykalsky Krai and the Republic of Tyva, with combined reserves of 1.3 billion tonnes and annual production of 17.4 million tonnes; supplies own CHPs and is exported.
6. Renewable energy certificates / I-RECs: Issuance and sale of International Renewable Energy Certificates (I-RECs) — En+'s New Energy modernization program and I-RECs Project were recognised as a UN Energy Compact in 2021; En+ was first Russian company registered and is undisputed leader in I-REC sales volume in Russia in 2023.

Go-to-market motion4 records

Core offering

En+ Group is a vertically integrated producer of primary aluminium, alloys, alumina, and bauxite (operated through subsidiary RUSAL across 11 smelters with ~4.2 Mt/year capacity and Aughinish alumina refinery in Ireland), paired with generation and sale of electricity, capacity, heat and coal from 15.2 GW of hydropower, 4.3 GW of thermal capacity, and coal mining assets in Siberia. The Group monetises the low-carbon intensity of its hydropower-fed smelters through the proprietary ALLOW brand, LMEpassport traceability, and International Renewable Energy Certificates, selling primarily to industrial buyers under long-term contracts and via the London Metal Exchange.

Product overview

En+ Group IPJSC is a Russian energy and metals holding company organised as a vertically integrated producer of low-carbon aluminium and renewable electricity, rather than a software platform. Its offering is structured around two core business segments — a Metals Segment (aluminium smelting, alumina refining, and the low-carbon ALLOW sub-brand, operated mainly through subsidiary RUSAL) and a Power Segment (hydropower, thermal generation, wind power development, and coal mining, operated through subsidiary EuroSibEnergo and other entities). Layered on top of these segments are a portfolio of technology, sustainability, and infrastructure initiatives, including the "New Energy" HPP modernisation programme, the Moksky hydroelectric complex project, inert anode aluminium smelting technology, the Multi-Lab educational centres, I-REC renewable energy certificates, green hydrogen and perovskite solar R&D, and the Group's Pathway to Net Zero programme. Corporate strategy emphasises synergy between clean hydropower and aluminium smelting, with ESG policies, partnerships (UNGC, WBCSD, ASI, CDP, IAI, LME, etc.), and externally certified low-carbon claims as core differentiators.

Differentiator

Problem solved

Functional benefit

Brands

• ALLOW: Proprietary low-carbon aluminium brand of RUSAL (En+ Group's wholly-owned subsidiary). ALLOW comes from smelters powered by more than 95% low-carbon energy, offering customers decarbonisation advantages.

Products and services

• ALLOW low-carbon aluminium brand Proprietary low-carbon aluminium brand produced by RUSAL (En+ Group's wholly-owned subsidiary) from smelters powered by more than 95% low-carbon hydropower. Marketed to industrial buyers seeking verifiable decarbonisation advantages for downstream products.
• Primary aluminium and alloys (Metals Segment) Primary aluminium, alloys and value-added aluminium produced from 11 RUSAL smelters with ~4.2 Mt/year capacity, supplied globally to industrial fabricators in automotive, packaging, construction and electrical sectors under long-term contracts and via the London Metal Exchange.
• Alumina and bauxite Alumina (including from Aughinish Alumina in Ireland, Europe's largest refinery) and bauxite produced by the Metals segment for internal smelter feedstock and for sale to third parties.
• Electricity generation and capacity (Power Segment) Electricity and capacity supplied from 5 hydropower plants (15.2 GW installed capacity, including Krasnoyarsk, Bratsk, Ust-Ilimsk, Irkutsk and Boguchany HPPs) and 15 thermal power plants (4.3 GW) to the Russian wholesale electricity market, regional grids and industrial offtakers under regulated and bilateral arrangements.
• Heat supply (CHPs) Heat supplied from the CHP portfolio (including the Teplovoy Luch thermal main in Irkutsk, the largest project in the Russian thermal power sector in the last half-century) to regional consumers as a regulated utility service.
• Coal Coal mined across 8 sites in the Irkutsk region, Krasnoyarsk Krai, Zabaykalsky Krai and Republic of Tyva, with combined reserves of 1.3 billion tonnes and annual production of 17.4 million tonnes; supplied to En+'s own CHPs and exported to third parties.
• Inert anode aluminium smelting technology Proprietary aluminium smelting technology replacing conventional carbon anodes with inert, non-consumable ceramics or alloys. Designed to deliver less than 0.01 tonnes of CO2-equivalent per tonne of aluminium and over 99% aluminium purity, providing a step-change decarbonisation lever for En+'s smelters.
• International Renewable Energy Certificates (I-RECs) International Renewable Energy Certificates issued against the low-carbon electricity generated by En+'s hydropower plants and sold to corporate buyers to substantiate renewable electricity usage in their sustainability reporting. En+ was the first Russian I-REC issuer (2020) and the Russian market leader by sales volume in 2023.
• Wind power development (Amur wind farm) Prospective 1 GW Amur wind farm being developed within the Power Segment to expand En+'s renewable generation portfolio beyond hydropower.

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Recent moves7 records

Expansion highlights7 records

Market position

Competitive moat6 records

Key highlights6 records

Customer concentration

• Xx.com/Enplusgroup
• YouTubeyoutube.com/user/TheEnplus
• LinkedInlinkedin.com/company/enplusgroup
• TikToktiktok.com/@enplus_energy
• Facebookfacebook.com/enplusgroup

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about En+