RusHydro Will Join World’s Leading Electricity Companies in Fostering Renewables Use in Argentina
JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that it will participate in an international project Patagonia in Argentina as part of its cooperation with International Global Energy Partnership, which seeks to develop energy sector and human potential in developing countries.
The project provides for a modernization of diesel power plant in Neuquén province, after the upgrade the plant will become a hybrid wind and diesel generation facility. The project also provides for a construction of run-of-the-river micro-hydropower plant with an installed capacity of 200 kW. The RusHydro's contribution to the project will amount to USD 300 thousand (the total estimated cost is USD 2.6 mn). Argentinian Ente Provincial de Energía del Neuquén (EPEN) will be an operator of the project.
RusHydro will soon sign a memorandum of understanding with other project participants: Duke Energy, AEP, Hydro-Quebec, Enel и RWE.
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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