Boguchanskaya hydropower plant launches the last hydropower unit
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the last 333 MW hydropower unit has been commissioned and put into commercial operation at the Boguchanskaya hydropower plant (a 50/50 JV of RusHydro and UC RUSAL). Total installed capacity of all nine hydro-units in operation amounts to 3000 MW.
Vyacheslav Kravchenko, Deputy Minister of energy of Russia, Evgeny Dod, Chairman of the Management Board – General Director of RusHydro and Vladislav Soloviev, CEO of UC RUSAL, participated in the ceremony of hydro-unit launch through videoconference with the Boguchanskaya HPP.
The first three 333 MW hydropower units of the Boguchanskaya HPP were put into operation on November 26, 2012, the fourth hydropower unit was launched on January 21, 2013, unit No.5 – on November 5, 2013, unit 6 on December 6, 2013 and units 7 and 8 in the end of September 2014. The plant has started commercial supplies to the wholesale electricity and capacity market from December 1, 2012. Since its launch the Boguchanskaya HPP has generated 13 TWh of electricity. The plant is a major taxpayer: for the nine months of 2014 it has paid over RUB 1.3 bn to the federal and regional budget.
Major part of electricity (around 93%) and capacity (around 85%) is supplied under unregulated prices determined at the competitive capacity auctions of the second price zone (Siberia). The rest of electricity and capacity are sold at the wholesale market under regulated agreements with last resort providers. Tariffs for these supplies are set by the Federal Tariff Service.
Actual capacity of nine hydro-units in operation amounts to 2,880 MW. The plant will reach its full capacity of 3,000 MW once the reservoir level is filled to the design reservoir level is 208 m (the reservoir level as of today is 204.5 m). The reservoir should be filled during 2015.
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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