RusHydro plants to develop small hydro in the Russian Far East with the leading companies form China
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that today during the official visit of the President of the Russian Federation, Vladimir Putin, to Shanghai, RusHydro has signed a number of agreements on cooperation with the leading Chinese energy companies.
Agreement on strategic cooperation between RusHydro and PowerChina focuses on development of small hydropower generation in Russia. In particular, PowerChina could get a number of EPC contracts to develop a number of small hydropower projects. The companies are forming a working group in order to formulate more detailed cooperation plan, including selection of specific projects.
Also, RAO ES of the East, RusHydro’s subsidiary, signed agreement on cooperation with Dongfang Electric International Corporation to develop joint projects in the Russian Far East. The parties are considering joint financing and construction of gas turbine unit at Vladivostokskaya CHP-2 (installed electric capacity of 93 MW, thermal capacity of 80 GCal/h), technical rehabilitation and modernization of existing generation and grid facilities as well as photovoltaic projects in the Sakha (Yakutia) Republic.
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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