RusHydro signed cooperation agreements with Japanese companies
December 16, 2016. Tokyo, Japan. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed of a number of agreements on further cooperation with Japanese companies during the visit of President of the Russian Federation Vladimir Putin to Tokyo.
RusHydro and Mitsui signed a Memorandum of Understanding as a follow-up to Agreement on technological cooperation signed by the parties at the Eastern Economic Forum in September 2016. The Memorandum was signed by Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro and Masami Ijima, Representative Director, Chairman of The Board of Directors of Mitsui.
The parties agreed to continue to exchange information regarding Japanese technologies and jointly study feasibility of renewable energy projects, including construction of wind and geothermal power plants as well as projects of hydrogen production using renewable energy sources (RES) for use in fuel cells in isolated grid areas, and, as part of collaboration, analyze application of new technologies for modernization of fossil fuel plants in the Far East, as well as pumped storage hydropower projects.
The second document RusHydro signed in Japan was a joint declaration of intent on cooperation in development of renewable energy projects between The New Energy Development Organization of Japan (NEDO), The Government of the Sakha Republic (Yakutia) and RusHydro. The document was signed by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, Kazuo Furukawa, Chairman of NEDO, Egor Borisov, Head of the Sakha Republic (Yakutia).
The participants acknowledged successful completion of the demonstration project on a cold climate wind power generation system in the township of Ust-Kamchatsk, Kamchatsky Krai, implemented with support of the Government of Kamchatsky Krai. The Participants intend to continue cooperation and to accelerate evaluating implementation of demonstration project in the township of Tiksi, Sakha Republic (Yakutia), with the use of Japanese technology.
RusHydro, Mitsui and KOMAIHALTEC signed a Memorandum of Intent in the of wind power generation. The document was signed by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, Masami Ijima, Chairman of The Board of Directors of Mitsui and Susumo Tanaka, Chief Executive Officer of KOMAIHALTEC.
The Parties confirmed their interest to cooperate in wind power generation aiming to reduce RES projects’ costs through localization of wind turbine generators (WTG) or its components in the Russian Federation. The Parties intend to explore potential sites in Russia suitable for the WTG local production and negotiate with potential local contractor(s) to evaluate possibility and feasibility of the WTG local production.
Also, RusHydro, Kawasaki Heavy Industries и Sojitz Corporation signed Cooperation agreement aimed to expanduse of gas turbines in new energy projects developed in the Russian Far East. The document was signed by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, Shigeru Murayama, Chairman of the Board of Kawasaki Heavy Industries and Shigeki Dantani, Vice Chairman of Sojitz.
Kawasaki, Sojitz and PJSC RAO ES of East; RusHydro’s subsidiary, will continue cooperation in development of pilot projects of construction of two combined heat and power plants in Vladivostok and Artem City in Primorsky District.
Kawasaki will also make maximum efforts to obtain Russian certificates of conformity of its gas turbine sets in the nearest possible time intended for pilot projects’ development. Kawasaki will seek to establish a joint venture with Sojitz to service the gas turbines.
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.
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