RusHydro Delegation Participated in Events at the Annual e8 Summit
JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that a delegation from the Company, headed by the Chairman of RusHydro's Management Board Evgeny Dod, participated in the annual Global Sustainable Electricity Partnership Summit (also known as e8), as well as in the International e8 Summit (under the auspices of the UN) "Strengthening Public-Private Partnerships to Accelerate Global Electricity Technology Deployment" held in New York (USA).
This year's e8 Summit was principally devoted to establishing a public-private partnership for global sustainable renewable energy development. Participants discussed numerous key issues, including: the need for a gradual transition to clean energy generation and trends in reviewing nuclear power engineering strategies. The Summit paid special attention to the necessity of increasing the share of hydropower plants and other renewable energy source facilities overall, which should provide energy security, new jobs, economic growth and a reduction in greenhouse gas emissions. e8 members signed a sustainable development declaration formalizing these new initiatives.
A second important event in New York was the International e8 summit - UN "Strengthening Public-Private Partnerships to Accelerate Global Electricity Technology Deployment." Evgeny Dod, Chairman of the Management Board of RusHydro, made a speech at the session "Best practices to effectively establish public-private partnership. Policy framework to meet goals". During his speech, he highlighted that "innovations are key to solving many tasks facing global power engineering."
In addition, during this business trip, RusHydro signed a bilateral cooperation memorandum with Canada's largest electricity generating company HYDRO-QUEBEC. Mr. Evgeny Dod, Chairman of RusHydro's Management Board, and Mr. Thierry Vandal, President and CEO, HYDRO-QUEBEC Company, signed the Document.
This memorandum will establish common cooperation principles in the sphere of hydropower engineering and will allow for the review of possibilities for exchanging experience and technologies. One area for cooperation will be the development of joint projects in the field of electric power generation, including technologies and methods for metering and correcting cavitation, assessing turbine condition and monitoring dams.
Established in 1991, the e8 (The Big Energy Eight, official name - Global Sustainable Electricity Partnership) is an international organization that combines the largest energy companies from G-8 countries. The main tasks of this organization are to develop a common policy for the sustainable development of electric power engineering and to organize large-scale debates on issues of environmental conservation, globalization, social policy, experience exchange in the field of electric power production and use and the development of electric power markets. The Organization also renders assistance to developing countries. RusHydro has been a member of the e8 since 2008.
HYDRO-QUEBEC is Canada's largest electricity generating company and the first hydroelectric power producer with total installed capacity of 36 GW. Renewable sources account for 94 % of the Company's generated electric power.
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.