17.11.2015
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Results of the Board of Directors on November 13, 2015


PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on November 13, 2015.

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The Board of Directors commissioned the Company’s Management Board:

  1. To approve the budget and Regulations on formation of charity and sponsorship activities fund within 10 days after approval of methodology for such regulations by the Economic Development of Russia.
  2. To add the section dedicated to areas and amount of charity and sponsorship fees paid by the Company and its subsidiaries during the reporting period to annual report.
  3. To report on a quarterly basis on spends from charity and sponsorship activities fund using interagency platform for state property management.

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The Board of Directors approved the report on execution of the Company’s KPIs in the 2nd quarter of 2015.

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The Board of Directors commissioned RusHydro’s representatives at the Annual General Meeting of shareholders of JSC Yakutskaya TPP-2 to approve an Addendum No.2 to general contractor agreement between JSC Yakutskaya-2 and JSC TEK Mosenergo for construction of the JSC Yakutskaya TPP-2 (1st stage), qualified as a major transaction.

Addendum No.2 provides for changes of construction period. Scheduled date of launch readiness is September 6, 2016. Scheduled date of construction completion is November 22, 2016.

Construction of the 1st stage of the Yakutskaya TPP-2 is one of four priority projects of RusHydro in the Far East of Russia. The electric capacity of the first stage of the plant will be 193 MW, heat capacity – 469 GCal/h. The new plant will replace the retired capacities of the Yakutskaya TPP, create spare capacity and improve reliability of power supplies in Sakha, Yakutia. New gas-fired plant will displace a part of inefficient and environmentally harmful boiler plants and provide heat supplies to customers.

The Board of Directors commissioned RusHydro’s representatives at the Annual General Meeting of shareholders of LLC Small HPPs of Stavropolie and KBR to approve an Addendum No.4 to the construction contract for construction and installation works at a small HPP “Bolshoi Zelenchuk” between LLC Small HPPs of Stavropolie and KBR and JSC ChirkeyGESstroy, qualified as a major transaction. The Addendum provides for changes of construction works period (date of completion – July 1, 2016), the price of contract remains unchanged.

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The Board of Directors approved an agreement between RusHydro and Federal Grid Company for optical fiber rent qualified as interested party transaction, and determined the price of agreement in the amount of RUB 478,000.71 (incl. VAT). The agreement is signed in order to connect power facilities of the Volzhskaya HPP to electric grids of Federal Grid Company.

The Board of Directors approved an agreement between RusHydro and Administration of Talakan settlement located in Amur region on gratuitous transfer of property. According to the agreement RusHydro transfers to municipal property of Talakan settlement non-residential facility located near the Company’s Bureyskaya HPP.

The Board of Directors took a note of the report on implementation of the agreement between RusHydro and Zagorskaya PSPP-2 for geotechnical planning and surveying, construction and commissioning of social and cultural facilities and sports venues on the territory of Bogorodskoe settlement.

The Board of Directors approved the amended Regulation on Financing of Construction of Social and Cultural Facilities and Amenities and an agreement between RusHydro and Bogorodskoe settlement located in Moscow region on gratuitous transfer of property. According to the agreement RusHydro transfers to the settlement design documentation for a 500-seat community center located in Bogorodskoe.

The Board of Directors approved the interim report on implementation of innovative development program of RusHydro in the 1st half of 2015. Total financing of the program in the 1st half of 2015 amounted to RUB 1,343 mn.

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The Board of Directors has moved the deadline for approval of the updated innovative development program of RusHydro and its subsidiaries to July 1, 2016.

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The Board of Directors approved specifications for review of implementation of the long-term development program of RusHydro Group for 2015-2017.

The long-term development program of RusHydro Group and the Standard for review of its implementation were approved by the Board of Directors on November 21, 2014.

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The Board of Directors approved combining positions of Chairman of the Management Board – General Director of RusHydro, member of the Board of Directors of PJSC Federal Grid Company and member of the Supervisory Board of NP NTS UES (Scientific and Technical Board of the unified energy system) by Nikolay Shulginov.

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The Board of Directors resolved to change the address (location) of Kabardino-Balkarian branch of RusHydro. New address: Kashtanau, Cherekskiy region, Kabardino-Balkarian Republic, Russia.

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The Board of Directors approved the amended policy for internal audit and risk management of RusHydro.


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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