RusHydro, NEDO of Japan and Sakha (Yakutia) Republic sign Declaration of intent on implementation of a wind power project
September 6, 2017. Vladivostok, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY), the Government of Sakha (Yakutia) Republic and New Energy and Industrial Technology Development Organization of Japan (NEDO) have signed a Declaration of intent on implementation of demonstration wind power project. The document was signed at the Eastern Economic Forum in Vladivostok by Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro, Egor Borisov, Head of the Sakha (Yakutia) Republic, and Kazuo Furukawa, Chairman of NEDO.
The participants intend to implement a demonstration project of a 1 MW wind power farm in in the township of Tiksi, Sakha (Yakutia) Republic.
The parties are to develop scheme of equipment supply and transfer, implementation of construction and installation works, development of the necessary infrastructure and commissioning of the facility, in compliance with the legislation of the Russian Federation.
According to the document, NEDO is to conduct feasibility study of the demonstration project by contracting Japanese organizations. Also, NEDO will supply three 300 kW wind power units, three diesel-generators, as well as energy accumulation and automated control systems. In turn, the Government of Sakha (Yakutia) Republic will provide support to project implementation and commissioning of the facility by PJSC Peredvizhnaya Energetika or/and JSC Sakhaenergo (both are subsidiaries of RusHydro Group). The Government of Yakutia and RusHydro will also develop plan for development of basic infrastructure, including construction of transmission lines.
RusHydro has already begun working on selected components of the project, including by developing project documentation for elements of wind power plants with linkage to the existing grid of Tiksi township, and construction of basements for the plants.
The parties expressed confidence that implementation of mutually beneficial projects will contribute to strengthening of Japanese-Russian cooperation.
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