RusHydro and State Grid Corporation of China Signed an Agreement on Strategic Cooperation
JSC RusHydro (ticker symbol: LSE, RTS, MICEX: HYDR; OTCQX: RSHYY) announces that it signed an agreement on strategic cooperation with State Grid Corporation of China.
In accordance with the document the parties will seek opportunities to cooperate in development of hydropower and alternative renewables, including wind power, as well as investments in shares, project development, construction, operation and technological development of hydropower and other projects.
The companies agreed to create a working group to pursue the initiatives outlined in the document and coordinating the activities. The working group will be in charge of drafting joint action plans, organization of meetings and seminars, coordinating relations with state bodies of both countries, research and analysis.
State Grid Corporation of China was established in 2002 and is currently the largest utilities company in the world. In particular, the corporation is engaged in construction and operation of electricity transmission and distribution lines. State Grid operates in 26 provinces, autonomous regions and cities, comprising 88% of the territory of China.
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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