08.06.2009
printable version
RSS

At the latest meeting of the Board of Directors of JSC RusHydro

On 8 June 2009, a regular meeting of the Board of Directors of JSC RusHydro was held in absentia.

 

***

The Board of Directors of JSC RusHydro took note of the Report on the results of the activities of the Strategy Committee under the Board of Directors for the 2008-2009 corporate year.

 

During the given period, 5 meetings were held of the Strategy Committee.

In accordance with the Regulations on the committees, the reports of each committee under the Board of Directors are considered by the Board of Directors of JSC RusHydro before the Annual General Meeting of Shareholders of the Company.

 

***

The Board of Directors of JSC RusHydro took note of the Report on the results of the activities of the Audit Committee for the 2008-2009 corporate year.

During the given period, 7 meetings were held of the Audit Committee.

 

***

The Board of Directors of JSC RusHydro took note of the Report on the results of the activities of the Personnel and Remuneration Committee for the 2008-2009 corporate year.

During the given period, 3 meetings were held of the Committee.

 

***

The Board of Directors of JSC RusHydro took note of the Report on the results of the activities of the Investment Committee for the 2008-2009 corporate year.

During the given period, 5 meetings were held of the Committee.

 

***

The Board of Directors of JSC RusHydro approved the Report on fulfilment of the key performance indicators of the Company for the 1st quarter of 2009.

 

The values of the annual and quarterly key performance indicators (KPI) of the Company for 2009 contained in the Company's business plan for 2009-2012 were approved by resolution of the Board of Directors dated 18 May 2009 (Minutes No. 77).

 

KPI fulfilment is calculated and assessed in accordance with the Methodology for calculation and assessment of KPI of JSC RusHydro, approved by resolution of the Board of Directors of JSC RusHydro dated 26 September 2008 (Minutes No. 62) with subsequent amendments (resolution of the Board of Directors of JSC RusHydro dated 24 December 2008, Minutes No. 69).

 

KPI fulfilment established for the Company for the 1st quarter of 2009:

 

1. KPI "Current liquidity ratio" fulfilled.

2. Indicator "Number of cases of non-fulfilment of the dispatch orders of JSC SO UES in the Company and its subsidiaries" fulfilled.

3. Indicator "Absence of fatal industrial accidents or group accidents with a grievous outcome in the Company and its subsidiaries" fulfilled.

4. Indicator "Receipt (existence) of an availability passport by the set time for facilities of the Company and its subsidiaries" fulfilled.

 

***

The Board of Directors of JSC RusHydro took note of the Report on fulfilment of the Company Insurance Coverage Programme for the 1st quarter of 2009.

 

***

The Board of Directors of JSC RusHydro approved the Company's Programme of work on standardization in the sphere of technical regulation for 2009-2011.

 

The Programme was developed on the basis of proposals submitted by the structural subdivisions of the Company, SDCs, design and scientific research institutes (B.Ye. Vedeneyev VNIIG, NIIES) and NP Hydropower of Russia, in consideration of the requirements of Federal Law of 27 December 2002 No. 184-FZ on Technical Regulation. In developing the Programme, account was taken of the results of standardization work in the sphere of technical regulation by JSC RusHydro over the last three years (2006-2008).

 

The Programme includes 9 sections reflecting the goals and principles of standardization, analysis of technical standardization during the transition period, classification of technical regulation standards and subjects, measures ensuring systemic development of standards in the sphere of technical regulation of the Company for the three-year period (2009-2011).

 

***

The Board of Directors of JSC RusHydro approved participation by JSC RusHydro in JSC Far East WPP by means of incorporation on the following terms and conditions:

  • authorized equity capital of JSC Far East WPP: 500,000 (five hundred thousand) roubles;
  • founder: JSC RusHydro (100% of the authorized equity capital);
  • category, type of shares placed on incorporation: ordinary registered shares with a nominal value of 1 (one) rouble; number of outstanding shares: 500,000 (five hundred thousand) units;
  • form of payment for the authorized equity capital: monetary funds;
  • procedure for payment of the authorized equity capital: payment shall be made for the shares in JSC Far East WPP within a period of 6 months of state registration of JSC Far East WPP; at least 50% of the shares in JSC Far East WPP hall be paid for within a period of 3 months of state registration of JSC Far East WPP.

JSC Far East WPP is set up specifically for implementation of the construction project for the Far East wind power station on the Russky and Popov Islands, included on the list of electricity supply facilities for the APEC Summit in 2012. The Far East WPP is the first major project using renewable energy sources (RES) in the Maritime Territory.

 

In January 2009, Directive of the Government of the Russian Federation No. 1-r was signed on the main spheres of state policy in the area of rising the energy efficiency of the electric power industry on the basis of use of RES for the period up to 2020. The Directive establishes that the proportion of power generation using RES in the country's aggregate balance and consumption of electric power (with the exception of electric power stations with an installed capacity of over 25 MW) should constitute 2.5% by 2015 and 4.5% by 2020.

 

On 11 May 2009, a Memorandum of Cooperation was signed between JSC RusHydro and the Japanese companies Mitsui and J-Power on the construction project for the Far East WPP. Under this Memorandum, the parties are jointly to erect the masts for performing a cycle of wind measurements on the site of the future WPP. The given wind measurements will be used for precise building of the models on the basis of which the decision will be made on investment and continued joint development of the WPP project.

 

The installed capacity of the future WPP may be up to 36 MW and the annual output, at least 90 million kWh. Construction of the WPP is to be launched in 2010 and completed during the first quarter of 2012.

 

***

The Board of Directors of JSC RusHydro resolved on the item "On members of the Management Board of the Company holding positions on management bodies of other organizations":

 

1. To approve member of the Management Board of JSC RusHydro Sergei Alexandrovich Yushin holding a position as member of the Supervisory Board of Non-commercial partnership Innovations in the Electric Power Industry (NP INVEL).

 

2. To approve member of the Management Board, Vice Chairman of the Management Board of JSC RusHydro Vasily Alexandrovich Zubakin holding a position on the Management Board of Autonomous Not-for-profit Organization International Centre for Stable Energy Development.

 

***

The Board of Directors of JSC RusHydro adopted the following resolution on the item "On determination of the position of the Company on agenda items for meetings of the Boards of Directors and General Meetings of Shareholders of subsidiaries and dependent companies: on determination of the agenda for General Meetings of Shareholders of SDCs":

 

To instruct representatives of JSC RusHydro on the Boards of Directors of JSC Nizhne-Zeiskaya HPP and JSC Nizhne-Bureiskaya HPP to vote "FOR" inclusion of the following item on the agenda for General Meetings of Shareholders of JSC Nizhne-Zeiskaya HPP and JSC Nizhne-Bureiskaya HPP:

 

- On termination of the authority of management organization JSC MC HydroOGK fulfilling the functions of the Company's sole executive body.

Your application has been accepted. The answer will be prepared and sent within 20 calendar days. ok