The bonds will be placed through the Moscow Interbank Currency Exchange (MICEX) via open subscription at par value.
The company said the placement will be organized by Gazprombank, a subsidiary of Russian energy giant Gazprom [GAZP], and KIT Finance, an investment bank.
WGC-5 is planning to use funds raised through the bond placement to refinance its bank loans, build new generating facilities, and modernize and upgrade its fixed assets.
WGC-5 was formed in Yekaterinburg in 2004 on the basis of four power plants, as part of the divestment of Russian electricity monopoly Unified Energy System's generating assets.
The decision to establish the company was taken by the UES board at a meeting on 3 September 2004.
The company's stock is traded on both MICEX and the RTS.
Deutsche Bank launched a GDR program on the London and Frankfurt exchanges for WGC-5 in September 2005 as a measure to boost the company's capitalization and attract investors.
