Results of the Board of Directors on April 29, 2015
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on April 29, 2015.
The Board of Directors approved business plan of JSC RusHydro for 2015, including the investment program, annual and quarterly KPIs as well as quarterly funding plans and implementation of capital investments for 2015. The Board of Directors also approved the Company’s business plan for 2016-2019, including the investment program.
The investment program of RusHydro for 2015-2019 provides for:
The investment program of JSC RusHydro for 2015-2019 provides for funding of technical upgrade and reconstruction of operating assets aimed to increase technical reliability and safety of generating facilities in the amount of RUB 206,628.36 mn. Technical modernization and reconstruction of operating assets are implemented in accordance with comprehensive modernization program of RusHydro. During 5 years the old equipment will be replaced with modern one, which will result in significant reliability, efficiency and security improvement of RusHydro’s generating facilities and increase in installed capacity (346.0 MW) of existing facilities.
The investment program of RusHydro includes continuation of construction of 4 priority projects in the Far East of Russia:
The planned amount of funding of four priority projects in the Far East in 2015-2019 amounts to RUB 72,040.51 mn.
The construction of the Zelenchugskaya HPP-PSPP with funding in the amount of RUB 3,693.93 mn is almost completed and will add 140 MW capacity in 2015.
In 2015-2019 the Company plans to fund the construction of ongoing projects, including:
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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