RusHydro and Polyus sign cooperation agreement
September 2, 2016. Vladivostok, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) and PJSC Polyus (MOEX — PLZL) announce signing of the cooperation agreement at the Eastern Economic Forum in Vladivostok. The document was signed by Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro and Pavel Grachev, CEO of Polyus.
The agreement aims to ensure reliable electricity supply of Polyus Group facilities, both operating mines and development projects, as well as guarantee economic efficiency of RusHуdro’s generating facilities under construction.
Areas of cooperation include joint review of options to raise budget financing, possible power purchase agreements, as well as analysis of existing regulation and potential development of regulatory amendments.
The two parties intend to synchronize RusHydro’s investment plans for construction of generating facilities with Polyus plans aimed at expansion and modernization of operating gold mines, as well as development projects. The parties are also planning to evaluate sources of financing for projects of mutual interest and assess economic feasibility of project financing.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.