Results of the Board of Directors Meeting on October 24, 2018
October 29, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting October 24, 2018.
The Board of Directors approved the report on execution of PJSC RusHydro’s Plan for divestment of non-core assets for second and third quarters of 2018. The Board of Directors acknowledged significant progress in optimization of the Group’s structure and manageability, achieved during the three years.
The Board of Directors acknowledged report on analysis of technological development and KPIs of innovative activity of RusHydro Group in comparison with peer companies.
The goal of the research, conducted by PWC, was to develop proposals for actualization of RusHydro’s Program of innovative development based on prospective technologies as well as actualization of the Program’s KPIs and reflected benchmarking of Company’s technological development against peer group including leading international utilities.
PWC experts stressed that RusHydro is the only company in Russia possessing experience of running an industrial-scale energy storage facility. Integration of small-scale energy storage systems with solar and wind power plants is the Company’s priority for isolated energy regions. Wind-diesel complex built by RusHydro jointly with Japanese partners in Tiksi settlement in Sakha (Yakutia) Republic with total capacity of 4 MW is a successful example of a project with integrated storage system. According to the expert opinion, in order for such projects to be profitable, further development of regulation is necessary.
The Board of Directors acknowledged report on implementation of decisions, adopted by the AGM on 27.06.2018.
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 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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