RusHydro and Voith Hydro signed a memorandum of modernization of hydro turbines at the Saratovskaya HPP
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) and Voith Hydro signed a memorandum of modernization of hydro turbines at the Saratovskaya hydropower plant (HPP). The document was signed on the platform of St. Petersburg International Economic Forum (SPIEF) by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro and Dr. Leopold Heninger, CEO of Voith Hydro.
The memo sets that certain details of hydro turbines of the Saratovskaya HPP will be manufactured in Russia at the joint venture of RusHydro and Voith Hydro – VolgaHydro LLC.
RusHydro and Voith Hydro have been cooperating on a number of projects; modernization of the Saratovskaya HPP is the largest one among them. The comprehensive modernization of the plant provides for replacement of 21 turbines and hydro unit No. 24. The new equipment will increase the plant’s installed capacity by 10%. The first four modernized hydro units of the Saratovskaya HPP have already been commissioned.
The project is a part of the Company’s comprehensive modernization program.
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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