Today it is a joint venture combining technological, industrial and intellectual resources of six world-famous Russian enterprises: Leningradsky Metallichesky zavod (established in 1857), Electrosila (1898), Turbine Blades’ Plant (1964), Kaluga Turbine Works (1946), Reostat Plant (1960) and Energomachexport (1966).

[5] As of 31 December 2009[update] 69.92% of shares were owned by Highstat Limited, a company controlled by Alexei Mordashov.

[7] In August 2012 Highstat made a mandatory offer of 4.53 rubles (US$0.139) per share to the remaining minority shareholders, which the Investor Protection Association said was significantly undervalued.

[8] In 2017, the company's CEO Roman Filippov was placed under temporary arrest on suspicions of divulging State secrets.

[9] Machine Powers was placed under US sanctions in 2018 for working to “support Russia’s attempted annexation of Crimea”,[10] leading to the loss of a $500-million contract in Vietnam,[11] a failed payment for a contract completed for Ukraine's DTEK,[12] and the sale of its 35% stake in Siemens Gas Turbine Technologies LLC.