Results of the Board of Directors Meeting
JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces the results of the Board of Directors meeting from December 5, 2011.
The Board of Directors approved a program of comprehensive modernization of RusHydro's generation fleet for 2012-2025.
The program was developed in accordance with RusHydro's strategic plan after in-depth inspection and reliability assessment of hydrotechnical facilities, equipment and buildings. It optimizes a previously approved plan of technical refurbishment and upgrade to accelerate the modernization of the generation fleet, and was approved by research-and-engineering council of RusHydro.
In accordance with the document RusHydro plans to replace 50% of turbines, 40% of generators, 60% of transformers, ancillary equipment, control wiring and high-voltage switchgear.
The large-scale modernization will drastically increase the reliability, efficiency and security of the generation fleet of RusHydro, increase in installed capacity of 1GW, sustainable growth of electricity generation.
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.