E4 Group will build a 400MW combined-cycle power plant in the territory of the currently operating Cherepovetskaya GRES for RUB17.8bn ($592m).
Under the contract, E4 will provide preliminary construction and assembly operations, special-purpose construction works, purchase, delivery, installation, and execute design and setup.
The firm will also conduct testing of equipment necessary for the facility and provide services for its final commissioning stage.
Siemens will supply the main equipment for the new power unit.
The project is expected to be competed by January 2014.