We deliver high quality value accretive solutions to countries, companies and investors interested in developing nuclear, conventional or renewable energy and infrastructure utilities, such as water desalination or energy storage

We deliver high quality value accretive solutions to countries, companies and investors interested in developing nuclear, conventional or renewable energy and infrastructure utilities, such as water desalination or energy storage
Independent Energy was founded in 2016 by a team of like-minded professionals - top managers in a number of companies in the energy sector, financial institutions and other industries.

Independent Energy is both an investment fund and a project management platform based on the principles of "agile management". We manage projects forming result oriented and mobile teams capable of making decisions fast and cost-efficienly.

Independent Energy invests its own financial resources in creation of engineering companies, provides them with the human resources, detailed and verified business documentation. We also outsource specialized engineering companies with the required expertise and experience for specific projects.

What we do
Project Development,
Design and Engineering
In our portfolio we have dozens of various optimization decisions that allow us improve business feasibility of projects
Project Development,
Design and Engineering
In our portfolio we have dozens of various optimization decisions that allow us improve business feasibility of projects
Project Development, Design and Engineering
  • Assisting design and engineering of multiple business value optimization decisions
  • Expert evaluation and acceptance of the project designs, drawings and multiple detailed designs documentation
  • Engineering and economic assessment of decisions on various phases of the project implementation
  • Monitoring of engineering surveying activity, environmental impact assessment
  • Expertise of preliminary safety analysis reports (PSAR), probabilistic and deterministic risk models & analysis (PRA and DRA models), final safety report (FSAR)
  • Creation and implementation of the Owner's quality management system, collision and claims management
  • Commissioning and beginning of commercial operations: optimization of operating schedules, maintenance periods, fuel campaign, etc.
  • Project value management, evaluation of economic decisions, financial modeling
  • Banking feasibility studies, documentation for financial institutions
Project Management,
Engineering Procurement
and Construction

Our team has extensive experience in the preparation and implementation of EPC contracts in various projects and countries. It helps our clients quickly come up the learning curve and save money and time
Project Management, Engineering Procurement and Construction
  • Development of business model and corporate strategy
  • Multi-lot and open book principles translation into EPC implementation
  • Tendering documentation, procurement policy and evaluation specifications
  • Development of the Owner's requirements to the EPC execution and various inherent technical requirements and terms of reference
  • Organization of works and activities within the Owner's scope, works progress monitoring and risk management system
  • Supply chain management and suppliers' audit
  • Supervision of Logistical, delivery and storage procedures, works acceptance, commissioning
  • Configurations and changes management
  • HSE policies, compliance monitoring at the site
  • Site management, extraordinary situations and incidents resolution
  • Supervision of accounting and registration system for deliveries of equipment, materials, pipe, cables, etc
  • Acceptance, commissioning and beginning of commercial operations: optimization of operations and maintenance schedules, fuel campaigns, etc.
Promotion of Sustainable
Business & Safety Culture

Safety of operation and business responsibility for environment and promotion of responsible operation culture are among our top priorities. We are open for new ideas and are in constant search for creativity in new business ideas.
Promotion of Sustainable
Business & Safety Culture

Safety of operation and business responsibility for environment and promotion of responsible operation culture are among our top priorities. We are open for new ideas and are in constant search for creativity in new business ideas.
Promotion of Sustainable Business & Safety Culture
  • Organization of work with regulatory authorities over preparation of smart regulation
  • Best industry practices promotion and adaptation
  • Renewable energy generation and storage solutions design and integration
  • Assistance in liaising with authorities, cooperation with international agencies
  • Assisting our clients in the establishment of specialized entities responsible for cooperation with suppliers of equipment, materials and services
  • Support in public awareness and project acceptance matters
  • Recruitment, staffing, training and certification of personnel
  • Developing efficient site restoration and waste management solutions, funding these activities
  • Qualified expert support in international professional organizations and communities
  • Research and development monitoring and support
Energy Consumption Management
With focus on complete business solutions we also deliver comprehensive Energy Consumption Management solutions to our customers: from detailed energy audit, load management to distributed generation, storage and complete implementation, including financing.
Energy Consumption Management
  • Auditing our customers' installations, helping understand energy consumption patterns and areas for optimization
  • Basing our solutions on open platforms, supporting maximum flexibility of end equipment design
  • Compatibility with most common data exchange protocols
  • Installing data acquisition systems monitoring not just electricity but all possible inputs to the consumption model: lighting, weather, heating, CO2 levels, noise, etc.
  • Building comprehensive energy consumption models utilizing capabilities of machine learning and artificial intelligence solutions
  • Minimize instant energy consumption and also redistribute load over time to create the best consumption profile to match specific tariff system
  • Deployment of large-scale data processing solutions for multiple sites
  • Design and installation of active load management systems
  • Establishing communication among various devices - the Internet of Things
  • Design procurement and installation of distributed generation and storage systems further enhancing load management solution
  • From now jointly with Foresight Fund
Financial Engineering,
Economic Evaluations, Fundraising, Transaction Advisory
Our team has successfully concluded dozens of asset, debt and equity transactions in various countries. In our recent experience, we managed to deliver superior quality debt and equity financing for large scale new nuclear projects.
Financial Engineering, Economic Evaluations, Fundraising, Transaction Advisory
  • Economic modeling of various industries and projects
  • Fundraising, organizing vendor, government, bank credit, export credit agencies
  • Managing the debt procurement and syndications
  • Transaction support advisory services, transaction documentation, due diligence, data management
  • Negotiations: economic decision support, assistance in preparation of legal documents
  • Guarantees, sureties and various form performance bonds management
  • Fairness opinions and independent evaluations
  • Multinational support and international support in cross-boarder transactions
Nuclear Power Plants Construction
Akkuyu, Turkey
Bushehr, Iran
Fennovoima, Finland
Paks, Hungary
Tianwan, China
Akkuyu, Turkey
  • First international nuclear BOO project in the world
  • Delivering vendor and intergovernment financing under BOO model, $20 billion
  • Obtaining comprehensive construction licensing solution in a newcomer state
  • Localization, EPC scope lotting procurement
  • Newcomer regulation, construction and education management
Bushehr, Iran
  • Redesign, different vendor integration
  • Successful crisis recovery up to turnkey
  • Operating personnel training and certification
Fennovoima, Finland
  • Harmonization of over 50 industrial shareholders with diverse expectations
  • Zero-profit Mankala-type BOO model, electricity offtake through equity
  • Negotiating and signing EPC contract, service, fuel supply contracts
  • Multi-country procurement and project management
  • Complicated political environment
  • Committing equity, €2.4 billion Russian National Welfare Fund financing, ECA facilities
  • Procurement lotting, supplier alliancing, risk allocation
  • Cost efficiency and owner's scope management
Paks, Hungary
  • €12.5 billion EPC contract negotiations and signing
  • Arranging intergovernment financing
    for €10 billion
  • Resolving European commission regulatory clearance
  • Grid integration and, extensive localization
  • Cross culture regulation under international authorities
  • Comprehensive front and back end fuel contracting
Tianwan, China
  • Design collision management
  • Construction and commissioning management
Conventional Energy
Privatization of RAO Unified Energy System of Russia, restructuring of multiple large scale power generation businesses, advisory work for several wholesale and territorial Russian generation utilities TGK-1, TGK-4, TGK-5, OGK-1, others.

Management accounting, budgeting and staff training advisory assignments.
Engineering
Construction and operation of nuclear and conventional power plants and other industrial facilities at all phases from surveying works, sites selections, licensing, obtaining construction and operation permits, construction and erection works, works, commissioning and commercial operations.

Design, planning, quality and risk management, managing configuration and changes in accordance with national and international requirements, best industry practices and stakeholders' requirements.
Construction and operation of nuclear and conventional power plants and other industrial facilities at all phases from surveying works, sites selections, licensing, obtaining construction and operation permits, construction and erection works, works, commissioning and commercial operations.

Design, planning, quality and risk management, managing configuration and changes in accordance with national and international requirements, best industry practices and stakeholders' requirements.
Upstream Oil & Gas
Development of exploration and production projects in remote locations in Far North, West and East Siberia, sophisticated mobilization campaigns, pipeline construction, oil treatment facilities, roads, living camps, operation in extreme weather conditions in permafrost and island operations.

Multiple international projects in the Middle East: Iran, Iraq, Libya, West Africa offshore. Negotiations of several international service contracts, buybacks and production sharing agreements, joint operating agreements.
Refining & marketing of oil products
Management of refining operations in Eastern Europe, Russia, construction of petrochemical facilities, refinery upgrade projects, acquisitions and management of petroleum marketing facilities.
Management of refining operations in Eastern Europe, Russia, construction of petrochemical facilities, refinery upgrade projects, acquisitions and management of petroleum marketing facilities.
Banking, Investments & Finance
Management of large commercial banking operations in Russia, building of a top-5 country bank, national retail expansion, corporate lending. Acquisition and management of top-5 insurance business in Russia. Syndication of debt facilities for clients and on own accounts, international project and export finance syndications, worth billions of dollars. Managing investment programs for several top Russian oil companies, developing investment decisions for Rosatom international projects worth $60+ billion.

Investments in real estate development in the Moscow region, structuring of development projects joint ventures.
People
Fuad Akhundov
Mr. Akhundov is a Chairman and the founder of Independent Energy. Prior to that Mr. Akhundov served as CEO and Deputy Chairman of the Board of Akkuyu Nuclear. Earlier at Uralsib, one of the largest Russian banking groups, he worked in various capacities, including the bank's CEO, first Deputy Chairman, Board Member, Chairman of Uralsib Asset Management and CEO of ZNAK -land developer. Founded United Capital Investment Group, also was a member of the Supervisory Board of Silkroutefinancial, London where he led a number of large M&A transactions. From 1993 to 2001, Mr. Akhundov worked in the banking system of Azerbaijan, where he served as the Deputy Board Chairman of the National Bank of Azerbaijan. He led negotiations with the IMF and the World Bank and structured first IMF loans received by the country. Was one of the founders of the Currency Control Law of the Republic of Azerbaijan. From 1995 he served as Board Chairman of the International Bank of Azerbaijan. Held various positions with the State Committee for Economy and Planning and Azerbaijan President's Administration. Earlier he worked at the Ministry of Defense of the USSR in various capacities, including Head of Research Sector in Special Construction Directorate. Mr. Akhundov is a graduate of the Azerbaijan State Oil Academy and the Business School at the University of Texas, he also holds degrees of the Japan Center for International Finance and the Joint Vienna Institute of the IMF.
Fuad Akhundov
Mr. Akhundov is a Chairman and the founder of Independent Energy. Prior to that Mr. Akhundov served as CEO and Deputy Chairman of the Board of Akkuyu Nuclear. Earlier at Uralsib, one of the largest Russian banking groups, he worked in various capacities, including the bank's CEO, first Deputy Chairman, Board Member, Chairman of Uralsib Asset Management and CEO of ZNAK -land developer. Founded United Capital Investment Group, also was a member of the Supervisory Board of Silkroutefinancial, London where he led a number of large M&A transactions. From 1993 to 2001, Mr. Akhundov worked in the banking system of Azerbaijan, where he served as the Deputy Board Chairman of the National Bank of Azerbaijan. He led negotiations with the IMF and the World Bank and structured first IMF loans received by the country. Was one of the founders of the Currency Control Law of the Republic of Azerbaijan. From 1995 he served as Board Chairman of the International Bank of Azerbaijan. Held various positions with the State Committee for Economy and Planning and Azerbaijan President's Administration. Earlier he worked at the Ministry of Defense of the USSR in various capacities, including Head of Research Sector in Special Construction Directorate. Mr. Akhundov is a graduate of the Azerbaijan State Oil Academy and the Business School at the University of Texas, he also holds degrees of the Japan Center for International Finance and the Joint Vienna Institute of the IMF.
Djurica Tankosic
Mr. Tankosic is a Board Member of Independent Energy - a senior corporate executive with over 43 years of experience in global engineering and construction companies like Bechtel, WorleyParsons and Parsons Group, Yugoslavian utility JUGEL. Managed major nuclear hubs, set up and ran regional power businesses. His most recent position was a president of WorleyParsons' Global Nuclear and a senior corporate vice president. During his work, Mr. Tankosic extensively cooperated with multiple global institutions such as IAEA, the World Bank, governments, corporations, commercial and export credit banks. Djurica Tankosic managed and participated in various capacities, in major nuclear power projects: Grand Golf 2, Callaway, Wolf Creek, Seebroock, Krsko, Belene, Jordan NPP, Akkuyu, El Dabaa, Hanhikivi, Mohovce unit 4, Cherna Voda 3, New Metzamore Unit 3, Baltic NPP, Bataan, South Africa Nuclear program, Saudi Arabia Nuclear program. He has a broad experience in applications of the Russian VVER technology in Europe, and multiple locations around the globe; US Westinghouse and GE nuclear Technologies; Canadian CANDU Technology. Mr. Tankosic is a Harvard Business School Executive MBA graduate, has MSc and BSc degrees in nuclear and electrical engineering from the University of Belgrade and has completed multiple training certification programs at Bechtel, Argonne National Lab, IAEA, others
Djurica Tankosic
Mr. Tankosic is a Board Member of Independent Energy - a senior corporate executive with over 43 years of experience in global engineering and construction companies like Bechtel, WorleyParsons and Parsons Group, Yugoslavian utility JUGEL. Managed major nuclear hubs, set up and ran regional power businesses. His most recent position was a president of WorleyParsons' Global Nuclear and a senior corporate vice president. During his work, Mr. Tankosic extensively cooperated with multiple global institutions such as IAEA, the World Bank, governments, corporations, commercial and export credit banks. Djurica Tankosic managed and participated in various capacities, in major nuclear power projects: Grand Golf 2, Callaway, Wolf Creek, Seebroock, Krsko, Belene, Jordan NPP, Akkuyu, El Dabaa, Hanhikivi, Mohovce unit 4, Cherna Voda 3, New Metzamore Unit 3, Baltic NPP, Bataan, South Africa Nuclear program, Saudi Arabia Nuclear program. He has a broad experience in applications of the Russian VVER technology in Europe, and multiple locations around the globe; US Westinghouse and GE nuclear Technologies; Canadian CANDU Technology. Mr. Tankosic is a Harvard Business School Executive MBA graduate, has MSc and BSc degrees in nuclear and electrical engineering from the University of Belgrade and has completed multiple training certification programs at Bechtel, Argonne National Lab, IAEA, others
Alexander Afrov
Mr. Afrov is a Board Member of Independent Energy. Prior to joining the firm Mr. Afrov served a Technical Director, Deputy CEO for Construction at Akkuyu Nuclear between 2011 and 2018. From 2009 to 2011, Mr. Afrov served as Deputy CEO of JSC NIISA, was also a head of Novovoronezh NPP-2 Construction Project at Atomenrgoprom. Previously Mr. Afrov served as CEO at one of the leading O&G engineering and design companies, VNIIST-Neftegazproekt (2006-2008) and Giprotruboprovod, of Transneft (2005-2006). From 1999 to 2005, Mr. Afrov was with major Russian construction company in the nuclear industry, JSC Atomstroyexport, where he served as Chief Engineer, Head of Bushehr NPP construction and a vice president. From 1971 to 1999 Mr. Afrov was with OKB Gidropress, main engineering and design institution of Rosatom, where he served in various capacities in engineering, including that of the chief designer. Mr. Afrov is one of the experienced and most respected professionals in the Russian nuclear energy community. Mr. Afrov is a graduate of the Moscow Power Engineering Institute with a degree in power engineering. Mr. Afrov was awarded the medal "In Memory of the 850 Anniversary of Moscow" and holds title of "Veteran of nuclear energy and industry".


Grigory Kazakov
Mr. Kazakov is a Board Member of Independent Energy. He worked as a CFO of Akkuyu Nuclear from 2014 to 2017. Mr. Kazakov earlier worked at Urals Energy, independent Oil Company, where he served in capacities of the CFO, Vice-president of finance and accounting, and participated in the IPO and SPO of Company' shares at the London Stock Exchange. He was also responsible for the financial management of the Company and provided debt and equity fundraising, as well as investor relations. From 2003 to 2005, Mr. Kazakov was with YUKOS Oil Company, where he served at the Company's Project Office, he was responsible for the engineering of financial reporting business processes. From 1997 to 2003, Mr. Kazakov worked at PricewaterhouseCoopers, where he served at the Energy Industry Audit Department and later at Transaction Services Department. He was responsible for preparation of companies for IPO and assisted clients during M&A deals. Mr. Kazakov is a US CPA and holds a Russian Federation Auditor Certificate. Mr. Kazakov is a graduate of Gubkin Russian State University of Oil and Gas with a degree in Economics and Company Management in Oil and Gas Industry.


Grigory Kazakov
Mr. Kazakov is a Board Member of Independent Energy. He worked as a CFO of Akkuyu Nuclear from 2014 to 2017. Mr. Kazakov earlier worked at Urals Energy, independent Oil Company, where he served in capacities of the CFO, Vice-president of finance and accounting, and participated in the IPO and SPO of Company' shares at the London Stock Exchange. He was also responsible for the financial management of the Company and provided debt and equity fundraising, as well as investor relations. From 2003 to 2005, Mr. Kazakov was with YUKOS Oil Company, where he served at the Company's Project Office, he was responsible for the engineering of financial reporting business processes. From 1997 to 2003, Mr. Kazakov worked at PricewaterhouseCoopers, where he served at the Energy Industry Audit Department and later at Transaction Services Department. He was responsible for preparation of companies for IPO and assisted clients during M&A deals. Mr. Kazakov is a US CPA and holds a Russian Federation Auditor Certificate. Mr. Kazakov is a graduate of Gubkin Russian State University of Oil and Gas with a degree in Economics and Company Management in Oil and Gas Industry.


Vyacheslav Ivanov
Mr. Ivanov is a Director of Independent Energy, earlier has held positions of a CFO and a senior advisor of Rusatom Overseas, part of Rosatom State Corporation evaluating and developing projects 2013-2017, delivering competitive financing to multiple large-scale international nuclear projects. Managed financing arrangements for Fennovoima in Finland, Akkuyu in Turkey, Paks in Hungary for billions of dollars, large procurements with committed financing. Previously worked as a head of strategy and investments within the Uralsib Group, served at the boards of directors. Was involved in development, evaluation and negotiation of upstream projects in MENA countries as a head of the international business at Gazprom Neft; worked a CEO, board member, earlier a vp of Urals Energy, a Russian independent E&P oil company, worked on several private initiatives managing investments in the energy sector. Worked at Troika Dialog advisory, was one of the co-founders of Uralsib. Vyacheslav Ivanov holds an MBA degree from William E. Simon Business School, University of Rochester, a BA degree from the University of Toronto, studied computer engineering at the Moscow Institute of Radioelectronics and Petroleum Engineering at the Imperial College, London. Mr. Ivanov is teaching a course Valuation Cases in M&A at the Masters of Science program at ICEF, Higher School of Economics in Moscow.
Oleg Titov
Mr. Titov is a non-executive Board Member of Independent Energy. His current position is a head of Power and Gas Department of Siemens Russia. Previously Mr. Titov worked as a CEO and deputy CEO (COO) of Akkuyu Nuclear from 2012 to 2017. Mr. Titov also earlier worked at Siemens as Director Energy Fossil Russia and project director between 2004 and 2012.

In his career, Oleg Titov held multiple executive positions in energy industry working for Russian and international companies, including Siemens, Alstom, Rosatom Akkuyu, multiple other.

Spearheaded smooth project implementation in all aspects: engineering, design, procurement, project management, intergovernmental relationships, economics, mathematical modeling, in multiple nuclear and conventional energy projects in Russia, Turkey, Germany, Bangladesh, Central Asia, Vietnam, China, plus others.

Mr. Titov holds a Masters degree in electrical engineering from the Moscow Energy Institute where he studied 1980-1986. Received additional training at Academy of Economic Affairs, Siemens Project Leadership Academy in Russia and Germany.
Oleg Titov
Mr. Titov is a non-executive Board Member of Independent Energy. His current position is a head of Power and Gas Department of Siemens Russia. Previously Mr. Titov worked as a CEO and deputy CEO (COO) of Akkuyu Nuclear from 2012 to 2017. Mr. Titov also earlier worked at Siemens as Director Energy Fossil Russia and project director between 2004 and 2012.

In his career, Oleg Titov held multiple executive positions in energy industry working for Russian and international companies, including Siemens, Alstom, Rosatom Akkuyu, multiple other.

Spearheaded smooth project implementation in all aspects: engineering, design, procurement, project management, intergovernmental relationships, economics, mathematical modeling, in multiple nuclear and conventional energy projects in Russia, Turkey, Germany, Bangladesh, Central Asia, Vietnam, China, plus others.

Mr. Titov holds a Masters degree in electrical engineering from the Moscow Energy Institute where he studied 1980-1986. Received additional training at Academy of Economic Affairs, Siemens Project Leadership Academy in Russia and Germany.

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