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RusHydro selected GlobalElectroService as the general contractor for construction of TPP in Sovetskaya Gavan’

JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that JSC GlobalElectroService has won a tender for the construction of 126 MW heat and power unit in Sovetskaya Gavan’ city in the Far East of Russia. E4 Group, JSC Technopromexport and JSC EMK-Engineering also participated in the tender.

The cost of construction came down to RUB 13.178 bn (including VAT) from the initial (maximum) price of RUB 14.977 bn. Thus, the accrued savings on construction of the heat and power plant in in Sovetskaya Gavan’ amounted to RUB 1.8 bn. The signing of the agreement and start of construction works are scheduled for July 2014.

The installed electric capacity of the project is 126 MW, thermal capacity – 200 Gcal/h. The project provides for construction of the in-site infrastructure for the next stages that will allow to increase the electric capacity of the plant to 360 MW.

Power plant in Sovetskaya Gavan’ is one of four priority investment projects in the Far East of Russia implemented by RusHydro together with RAO ES of East in accordance with the President’s decree. The government of Russia allocated RUB 50 bn for these projects. The investment program also includes construction of the Sakhalinskaya thermal power plant No. 2 (1st stage), the Yakutskaya thermal power plant No.2 (1st stage), and the Blagoveschenskaya thermal power plant (2nd stage). RAO ES of East (part of RusHydro Group) is responsible for operating management of four companies, RusHydro’s subsidiaries, created for construction of power facilities in the Far East.

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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