RusHydro launches Ust’-Srednekanskaya hydropower plant in the Far East of Russia
RusHydro Group (Group, ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the first stage of Ust’-Srednekanskaya hydropower plant on the Kolyma river in the Magadan region of the Far East of Russia is now officially complete, as two hydropower units have been put into operation. The plant has been included in dispatch service schedule and with its average daily output of 1.5 GWh is expected to produce until year end 245 GWh of electricity.
Construction work on the site continues. The next stage is increasing the water head from current to project level of 260 to 276.5 meters and commissioning of the third hydro-unit. Higher water head not only will allow for higher capacity, but also will help protect communities, located down the Kolyma River during floodings.
The plant is expected to provide energy for the developing mining operations in the region. In addition, the plant output will enable development of new unique operations, such as facility for production of liquefied hydrogen. In June 2013, RusHydro and Kawasaki Corp. signed an agreement on development of liquefied hydrogen in the region, that will supplied from the hydropower plant. Another important function of the dam is regulation of the Kolyma river flow, which is important for shipping. Increase in hydropower generation capacity will eliminate the need for construction of thermal generation plants in the region, thus reducing consumption of fuel and reducing the growth of electricity end-user tariffs.
Commissioning of Ust’-Srednekanskaya plant significantly improves reliability of energy supply both to industrial and household consumers in the isolated Magadan energy system. Previously 95% of electricity demand of the region was covered by a single power plant only – RusHydro’s Kolymskaya hydropower plant.
Ust’-Srednekanskaya plant is the second in the cascade of hydropower plants on the Kolyma river. It is located 9 km up the stream from the mouth of Srednekan River, tributary of Kolyma River. Construction of the plant began in 1991. The full installed capacity is 570 MW (four units 142.5 MW each). First phase of 168 MW comprises two units operating with temporary Francis runners. Completion of construction is planned for 2018.
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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