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RusHydro, Government of Kamchatsky Krai and Japanese partners sign Memorandum of Understanding

September 7, 2017. Vladivostok, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY), the Government of Kamchatsky Krai and Japanese companies Mitsui и KOMAI have signed a Memorandum of Understanding at the Eastern Economic Forum.

The Memorandum was signed by Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro, Vladimir Ilyukhin, Governor – Chairman of the Government of Kamchatsky Krai, Yoshio Kometani, member of the Management Board, COO of Infrastructure Business Unit of Mitsui and Susumo Tanaka, Chief Executive Officer of KOMAI.

The parties confirmed interest to development of wind power projects in Kamchatsky Krai with the view to reduce dependence of the region from traditional fuels.

The partners already have successful experience of a demonstration wind farm with micro-grid in Ust’-Kamchatsk township. The signed Memorandum reflects plans of construction of additional wind power unit in the township as extension of the existing demonstration wind farm.

RusHydro, KOMAI and Mitsui will jointly evaluate project costs and will develop preliminary project timeline. The Government of Kamchatsky Krai will review performance of the wind farm, built in the context of the demonstration project with the view to reflect the results in design of the new project. Mitsui will initiate the technical solutions and coordinate activity of the Japanese partners.

Currently RusHydro Group is implementing a program aimed at development of RES in isolated zones of the Far East. RusHydro is successfully operating hybrid wind-diesel systems in townships of Nikolskoye (Kamchatsky Krai) and Novikovo (Sakhalin oblast), wind power plants in the Township of Ust’-Kamchatsk (Kamchatsky Krai) and in the town of Labytnangi (Yamalo-Nenets Autonomous District).
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