RusHydro launches first three hydropower units at the Boguchanskaya hydropower plant
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that three hydropower units with a total capacity of 999 MW were commissioned and put into full operation at the Boguchanskaya hydropower plant after receiving approval of the Federal Service of Environmental, Technological and Nuclear Supervision (Rostechnadzor). The new hydropower plant will start commercial supplies to the wholesale electricity and capacity market from December 1, 2012.
The first two units of the Boguchanskaya HPP were put into test operation during an inauguration ceremony held by the Russian president, Vladimir Putin, in Moscow via videoconference on October 15. Evgeny Dod, Chairman of the Board of RusHydro, and Vladislav Soloviev, First Deputy CEO of UC Rusal, launched the final stage of operating test of the third unit on October 25.
The approval of operation of three units allows the Boguchanskaya HPP to start supplying electricity to the wholesale electricity and capacity market. From 2011 the Boguchanskaya HPP has been a member of Non-commercial Partnership “Market council” and is a wholesale market entity that allows the Boguchanskaya HPP to sign long-term bilateral agreements with large consumers and distributors of energy.
Construction of the HPP resumed in May 2006 after RusHydro and UK RUSAL had signed an agreement on the joint development of the Boguchanskoye Energy and Metals Complex (BEMO) as a part of the Boguchanskaya HPP with average multi-year generation is 17.6 bn kWh and aluminum smelter producing 600 tons of metals per annum.
The Boguchanskaya hydropower plant comprises 9 hydropower units and is the cornerstone of the public investment project “Development of the Lower Angara region”. The project will ensure the reliable power supply for the energy system of Siberia and foster further development of natural resources of the northern part of the Krasnoyarsk Region through private investment. The terms of implementation of public-private project “Development of the Lower Angara region” are determined from 2006 to 2015.
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.
Shares / ADR