Results of the Board of Directors meeting on January 20, 2022
January 20, 2022, Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in on January 20, 2022.
The Board of Directors took into consideration management’s report on RusHydro’s potential areas of technological development.
The Board of Directors took note that RusHydro’s technological development complies with both, Russian Federation’s Energy strategy and leading international trends of the power industry such as digitalization, decarbonization, efficiency improvement and reliability of electricity supply.
The Company is in the process of launching new EV charging stations in the Far East bringing the total number to over 50 in the region. Simultaneously RusHydro is implementing a large scale project Silk Way, in the scope of which EV charging stations will link Russia’s capital with Vladivostok. The federal highway will feature 80 charging stations situated only 150 km apart from each other spanning across 18 regions of the Russian Federation.
RusHydro will be actively engaged in technological consortiums aimed at development of hydrogen power. The Company has signed a cooperation agreement with H2 Chistaya Energetika for development joint projects in the field of hydrogen energy. RusHydro is currently constructing a scientific research center on the Russkiy Island in Vladivostok focused on latest innovative solutions in the field of renewable energy sources.
The Group continues analyzing new technological developments and solutions implemented by leading international power and production companies. Once complete, the Company will update its Innovative Development Program.
The Board of Directors reviewed the Program of power industry’s development of the Far Eastern Federal District for 2021-2031. The document outlines the basis of power and grid system development in the region. In accordance with it, by 2031 up to 2.5 GW of installed electric capacity, 8,063 110kV power lines will go online. Modernization with contribute an additional increase of installed capacity by 97 MW.
The Group’s investment program in the Far East includes commencement of construction of Ust-Srednekanskaya HPP construction of Khabarovskaya CHPP-4, Artemovskaya CHPP-2, 2nd phase of Yakutskaya GRES-2, modernization of Vladivostokskaya CHPP-2, expansion of Neryungrinskaya GRES and Partizanskaya GRES, the program on development of the power and grid complexes of the Sakhalin region (POUREK) and modernization of power and grid complexes of the Primorye region (MIREK). The Company is also considering construction of anti-flooding hydropower plants on the Amur river basin.
The Board of Directors took into consideration the information on RusHydro Group’s execution of energy service contracts.
RusHydro plans to commission independent power complexes with renewable energy sources in 72 residential areas in Yakutia and 7 in Kamchatka. Total installed capacity of new diesel power plants and renewable energy power plants will surpass 90 MW and 30 MW accordingly. Commissioning of the facilities will take place during 2021 and 2024.
In September of 2021, RusHydro has commissioned the first energy renewable energy power complex with installed capacity of 1,125 kW in Ulakhan-Kuel, Yakutia under the energy service agreement. The new power complex will provide reliable electricity supply to the remote village in Yakutia. It consists of automated system encompassing a modern 600 kW diesel power plant, 400 kW solar power plant and 125 kW energy storage unit. Utilization of renewable energy source together with modern other types of modern power generation will allow to reduce diesel consumption by as much as 45%.
By the end of 2021, another renewable energy facility with installed capacity of 3,742 kW including 1,000 kW of solar capacity was constructed in Verkhoyansk (Yakutia). It is currently undergoing testing phase with approximate commissioning date sometime in April 2022.
Energy service contracts provide for commissioning of autonomous power complexes including high efficient diesel power plants, renewable energy sources (solar or wind power plants) as well as energy storage system by attracting private investment. Such power complexes reduce environmental footprint and allow savings up to 30% on expensive diesel fuel.
The Board of Directors took into consideration the information on the execution status of priority projects in the Far East.
The Group is carrying out construction of the first phase of 110 kV Pevek-Bilibino power lines in extreme Arctic conditions twenty-four seven. Currently 31% of power transmission poles have been erected and 113 out of 490 km of power lines have been mounted. Preparation works for reconstruction of 110/35/6 Komsomolsky substation and construction of new 110/6 kV Bilibino distribution center are under way.
The new overhead lines will provide reliable power transmission between Pevek, where earlier this year the floating nuclear power plant Akademik Lomonosov has been commissioned, and Bilibinskaya nuclear power plant. The necessity to implement the project is driven high wear and tear of the existing power lines and decommissioning of Bilibinskaya nuclear power plant. In addition, a number of mining projects requiring reliable electricity supply are currently under way in Chaun-Bilibino power complex.
Construction of 570 MW Ust-Srednekanskaya HPP is under way. Its installed capacity reached 427.5 MW following replacement of temporary rollers of hydropower unit 1 and 2 with permanent ones.
The Group is also engaged in the four projects under the governmental program on modernization of thermal power of the Russian Federation with guaranteed return on investment – construction of Khabarovskaya CHPP-4, Artemovskaya CHPP-2, second phase of Yakutskaya GRES-2 and modernization of Vladivostokskaya CHPP-2. The technical documentation and engineering studies for Khabarovskaya CHPP-4 has been approved by the Russian Federation’s State Expert Evaluation Department. Documentation for modernization of Vladivostokskaya CHPP-2 has been submitted. Approval of documentation for the second phase of Yakutskaya GRES-2 is expected in the second half of 2022, while submission of documentation for approval of construction of Artemovskaya CHPP-2 is expected in 1Q 2022. Project documentation for expansion of Partizanskaya GRES and construction of the 2nd phase of Neryungrinskaya GRES is under preparation.