10.08.2018
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Results of the Board of Directors Meeting on August 07, 2018

August 9, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on August 07, 2018.

Key highlights:

  • Yury Trutnev re-elected as Chairman of the Board of Directors;
  • The Board of Directors elected all of the committees and chairmen;
  • The Board of Directors approved new edition of RusHydro’s Environmental policy.
  • The Board of Directors approved signing of Supplementary Agreement to the Budget Investment Agreement in regards to construction of TPP in Sovetskaya Gavan’ and Stage 1 of Sakhalinskaya GRES-2;
  • The Board of Directors approved Import substitution roadmap.

***

The Board of Directors re-elected Deputy Chairman of the Government of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District Yury Trutnev as its Chairman.

***

The Board of Directors elected Sergey Ivanov as Deputy Chairman of the Board of Directors of RusHydro.

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The Board of Directors elected following members to the Audit Committee:

Maksim Bystrov

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

Sergey Ivanov

Member of the Board of Directors of RusHydro

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro,

President of Altera Capital LLC

The Board of Directors took into consideration information that all members of the Audit Committee have relevant experience and knowledge in the field of preparation, analysis, assessment, and audit of financial statements.

The Board of Directors elected Sergey Ivanov as Chairman of the Audit Committee.

***

The Board of Directors elected following members to Nominations and Compensation Committee:

 

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro, President of Altera Capital LLC

Sergey Ivanov

Member of the Board of Directors of RusHydro

Maksim Bystrov

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

The Board of Directors elected Vyacheslav Pivovarov as Chairman of the Nominations and Compensation Committee.


***

The Board of Directors determined the size of the Strategy Committee as 14 persons and elected following members to the Committee:

 

Pavel Grachev

Member of the Board of Directors of RusHydro, President of PJSC Polyus

Sergey Ivanov

Member of the Board of Directors of RusHydro

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro, President of Altera Capital LLC

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Rector, National Research University Moscow Power Engineering Institute

Sergey Shishin

Member of the Board of Directors of RusHydro, Senior Vice President of VTB Bank (PJSC)

Aleksander Bogashov

Head of the Department for Corporate Governance, Pricing Environment, and Audit in the Fuel and Energy Sector of the Ministry of Energy of the Russian Federation

Dmitriy Denisov

Advisor to the Minister of Economic Development of the Russian Federation

Igor Zadvornov

Head of the Secretariat of the Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District Yury Trutnev

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Boris Livshits

Deputy Head of the Competitive Pricing Department at NP Market Council

Vasiliy Nikonov

Director of Energy Department of Rosneft

Yevgeniy Olkhovich

Deputy General Director for Strategic Development of PJSC Rosseti

George Rizhinashvili

Member of the Management Board, First Deputy General Director of RusHydro

Pavel Snikkars

Director of the Department of Electric Power Development of the Ministry of Energy of the Russian Federation

The Board of Directors elected Igor Zadvornov as Chairman of the Strategy Committee.

***

The Board of Directors elected following members to Investment Committee:

 

Maksim Bystrov 

Member of the Board of Directors of RusHydro,

Chairman of the Management Board of NP Market Council

Sergey Ivanov

Member of the Board of Directors of RusHydro

Vyacheslav Pivovarov

Member of the Board of Directors of RusHydro,

President of Altera Capital LLC

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Rector of the National Research University Moscow Power Engineering Institute

Mikhail Bychko

Director of the Capital Construction Department of PJSC Rosseti

Andrey Gabov

Acting Deputy Director of the Department for the State Regulation of Tariffs, Infrastructure Reforms, and Energy Efficiency of the Ministry of Economic Development of the Russian Federation

Sergey  Zhuravlyov

Vice President for Governmental Affairs at Management Company LLC Polyus

Denis Milyutin

Head of the Fuel and Power Resources Cost Control Office of the Energy Department of Rosneft

Pavel Snikkars

Director of the Department of Electric Power Development of the Ministry of Energy of the Russian Federation

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Sergey Kirov

Member of the Management Board, First Deputy General Director of RusHydro

Viktor Khmarin

Deputy General Director for Resources and Prospective  Development

***

The Board of Directors elected Maksim Bystrov as Chairman of the Investment Committee.

***

The Board of Directors elected following members to the Committee for Far East Energy Development:

 

Yuriy Trutnev

Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District

Pavel Grachev

Member of the Board of Directors of RusHydro, President, PJSC Polyus

Vyacheslav Kravchenko

Member of the Board of Directors of RusHydro, Deputy Minister of Energy of the Russian Federation

Sergey Vasilyev

Deputy General Director – Director of the Far East Division

Igor Zadvornov

Head of the Secretariat of the Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President in the Far Eastern Federal District Yury Trutnev

Andrey Kazachenkov

Member of the Management Board, First Deputy General Director of RusHydro

Denis Konstantinov

Acting Head of Electrical Energy Industry and Energy Efficiency Development Office of the Department for the State Regulation of Tariffs, Infrastructure Reforms, and Energy Efficiency of the Ministry of Economic Development of the Russian Federation

Denis Pileniyeks

Deputy Director for Unified Energy System Development at JSC SO UES

Aleksandr Pyatigor

Acting Deputy General Director of PJSC Rosseti for Service Development and Implementation

Aleksey Mol’sky

Deputy Chairman of the Management Board of JSC FGC UES

Vladimir Tupikin

Deputy Chairman of the Management Board, NP Market Council

Sergey Tyrtsev

Advisor to the Minister of Russian Far East Development

Aleksey Chekunkov

General Director of JSC Far East and Baikal Region Development Fund

The Board of Directors elected Yury Trutnev as Chairman of the Committee for Far East Energy Development.

***

 

The Board of Directors determined the size of the Reliability, Energy Efficiency, and Innovations Committee as 11 persons and elected the following persons to the Committee:

 

Nikolay Rogalev

Member of the Board of Directors of RusHydro,

Rector of the National Research University Moscow Power Engineering Institute

Vyacheslav Kravchenko

Member of the Board of Directors of RusHydro,

Deputy Minister of Energy of the Russian Federation

Oleg Barkin

Member of the Management Board – Deputy Chairman of the Management Board of NP Market Council.

Boris Bogush

Member of the Management Board, First Deputy General Director – Chief Engineer of RusHydro

Yuriy Vishnevskiy

Deputy Director for Unified Energy System Regime at JSC SO UES

Viktor Gvozdev

Deputy Chief Engineer of RusHydro

Dmitry Gvozdev

Chief Engineer of PJSC Rosseti

Sergey Zhuravlyov

Vice President for Governmental Affairs at Management Company Polyus LLC

George Rizhinashvili

Member of the Management Board, First Deputy General Director of RusHydro

Mikhail Fedorov

President of Peter the Great Saint Petersburg Polytechnic University, Bureau Chairman of the Scientific and Technical Council of RusHydro

Kirill Frolov

Deputy General Director for Research and Development of RusHydro

The Board of Directors elected Nikolay Rogalev as Chairman of the Reliability, Energy Efficiency, and Innovations Committee.

***

The Board of Directors recognized adequacy of the current composition of committees and absence of a need in additional committees.

***

The Board of Directors approved its working plan for 2H 2018.

***

The Board of Directors approved new addition of Environmental Policy of the RusHydro Group and determined that earlier version of RusHydro's Environmental Policy (approved by the Board of Directors of RusHydro on April 7, 2016, Minutes No. 235 dated April 8, 2016) to be null and void.

The new Environmental Policy sets targets for 2025 against 2015 as the baseline year.  The policy provides for increase in installed low-carbon generating capacity, reduction of greenhouse gases (GHG) emissions both in absolute terms and in terms of GHG intensity, protection of biodiversity. Thus, 632,3 MW of installed low-carbon generating capacity will be added by 2025, GHG intensity of electricity generation will be reduced by 7.7% and GHG intensity of heat generation reduced by 6.4%.

In October 2017, public hearings of the Environmental Policy took place, featuring representatives of WWF-Russia, RSPP, UC RUSAL, JSC Eurosibenergo, PJSC Rosseti, Lomonosov Moscow State University etc.  It is noteworthy that compliance with the Environmental Policy will become mandatory for RusHydro’s contractors as well.

***

The Board of Directors approved signing of Supplementary Agreement No. 5 (the "Supplementary Agreement") to Budget Investment Agreement No. 01-08/827 dated December 18, 2012 in accordance with obtained expert opinion of the Main Department of State Expertise (Glavgosekspertiza of Russia) on construction of the thermal power plant in Sovetskaya Gavan’ and Sakhalinskaya GRES-2 (stage 1)

***

The Board of Directors approved Import Substitution Road Map until 2025 and measures aimed at staged substitution of procurement of foreign products (works, services) with procurement of Russian products (works, services) with equivalent technical characteristics and consumer properties.

***

The Board of Directors approved concurrent positions of Andrey Valentinovich Kazachenkov, member of the Management Board, First Deputy General Director of RusHydro, as a member of the Board of Directors of JSC Far East Energy Management Company and member of the Board of Directors of JSC NPF LUKOIL-GARANT.

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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