RusHydro to Chair Global Sustainable Electricity Partnership
RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) has assumed chairmanship of Global Sustainable Electricity Partnership (GSEP) for the period from June 2013 to June 2014. The chairmanship was officially handed over from Duke Energy at the Partnership summit, convened in Washington, DC.
RusHydro has chosen as the theme of the year “Innovations – a shortcut to a sustainable world”. R&D and innovations are of high priority for the Company. RusHydro is actively developing its R&D base. One of innovations centers is being organized on basis of joint venture with Voith Hydro for hydro-turbines manufacturing. Initiation of large-scale international innovations projects under the aegis of the GSEP is a priority task for RusHydro in its capacity of the Partnership chair.
RusHydro is the only Russian member of GSEP. «For Russian utilities industry in general and for RusHydro in particular this is a landmark event. We are GSEP members since 2008 and this year we got unique opportunity to chair the organization. We will do our best to launch projects advancing the theme of the year. I’m confident that these projects will enable us to leverage cooperation with international majors in the field of combined generation and renewables for isolated territories in the Russian Far East in order to reduce consumption of diesel fuel. There are villages dependent on diesel generators for electricity. RusHydro is already implementing a program of replacing diesel generators with combined wind-diesel units, thus reducing consumption of diesel fuel, increasing the share of renewable energy and often reducing tariff, since it is very high in such areas», said RusHydro CEO Evgeny Dod.
As part of Chairmanship mandate RusHydro will convene sessions of project, political and management committees of the Partnership in Russia. The key event of the year will be the GSEP summit in Moscow scheduled for early June 2014, to feature the executives of the GSEP member companies.
As precursor to RusHydro chairmanship in GSEP the Partnership organized, with the help of RusHydro, a seminar devoted to the theme “Large Hydropower on the Way to Sustainable Development” in April this year. The event, held in the Russian city of Togliatti, featured more than 40 experts representing leading utility companies from all over the world.
Global Sustainable Electricity Partnership (GSEP) was formed in 1991 and unites largest utility companies from G-8 countries (other than United Kingdom).
The mission of GSEP is to play an active role in addressing global electricity issues and to promote sustainable development worldwide. The partnership advances its mission by: Developing joint policy frameworks and implementing related initiatives in both domestic and international markets. Engaging in the global debates on electricity-related issues, taking joint positions. Providing information and expertise on the efficient generation and use of electricity to assist developing countries in strengthening their human capabilities.
Currently the Partnership has 14 members: American Electric Power (USA); Duke Energy (USA), EDF (France); Enel (Italy); Hydro-Quebec (Canada); KANSAI (Japan); Comisión Federal de Electricidad (Mexico), RWE (Germany); RusHydro (Russia); TEPCO (Japan), State Grid Corporation of China (China), Iberdrola (Spain), Eletrobrás (Brasil) и Eskom (South Africa). The Partnership is governed collegially by all member companies. The chairmanship rotates every year.
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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