JSC RusHydro acquires retail supply companies
JSC RusHydro (ticker symbol: HYDR; MICEX, RTS and LSE) announces today the successful completion of acquisition of the shares in several energy retail supply companies. The stakes were bought from JSC RAO Energy Systems of East. The acquired assets include shares in JSC MosEnergoSbyt, JSC Petersburg Retail Sales Company, JSC SaratovEnergo, JSC Tambov Retail Sales Company and JSC AltayEnergoSbyt.
Acquisition of the retail supply companies is carried out within the framework of the strategy for the development of the retail supply activity of JSC RusHydro due to the retail supply market potential, synergy effects arising from combining power generation and retail supply and access to the end-customers.
The shares are bought by RusHydro's 100%-owned subsidiary JSC Energy Supply Company RusHydro (JSC ESC RusHydro) responsible for the sales activities of RusHydro's Group. Prior to the acquisition JSC RSC RusHydro had obtained consent from the Federal Antimonopoly Service for purchasing shares in the retail supply companies.
JSC Energy Supply Company RusHydro was established on November 10, 2008. JSC ESC RusHydro is a controlling shareholder of JSC KrasnoyarskEnergoSbyt, JSC Chuvashia Retail Supply Company and JSC Ryazan Power Distributing Company.
RusHydro is Russia's biggest hydro-generating company incorporating 60 renewable power source facilities. The company's installed capacity amounts to 25.4 GW, including Sayano-Shushenskaya HPP named after P.S. Neporozhny (6,400 MW), where recovery work is currently underway.
JSC RusHydro is the leader in the production of power based on renewable energy sources, developing power generation using water flows, as well as tidal, wind and geothermal energy.
For more information:
Investor Relation Department
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Shares / ADR