The RusHydro Group Completes the Acquisition of the Stake in Krasnoyarsk HPP
JSC Hydroinvest, a 100% subsidiary of JSC RusHydro (ticker symbol: HYDR: MICEX, RTS and LSE; RSHYY: OTCQX) completed a transaction to acquire 456,270 shares of JSC Krasnoyarsk HPP, which comprises 0.11% of the Company's regulated capital. Following the transaction, the RusHydro Group now holds 25.116% of the regulated capital of JSC Krasnoyarsk HPP.
Prior to acquisition of a blocking stake in the Krasnoyarsk HPP, the Group gained permission for the transaction from the Federal Antimonopoly Service of the Russian Federation.
In December 2010, the RusHydro Group assumed ownership of 24.9999% of the shares of JSC Krasnoyarsk HPP. The transaction was non-cash and was made through exchange of 4.5317% of JSC RusHydro's shares on the balance of JSC Hydroinvest.
Krasnoyarsk HPP is the second largest HPP in terms of installed capacity in Russia (trailing only JSC RusHydro's Sayano-Shushenskaya HPP). The installed capacity of the power plant is 6,000 MW. Krasnoyarsk HPP is the last of three steps in the Yenisey Cascade of HPPs. The average annual production of the HPP amounts to 17.5 TWh. The station has 12 hydro-units with a capacity of 500 MW each.
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.
Shares / ADR