RusHydro starts construction of two small hydropower plants on Kuban River
June 19, Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces start of construction of two small hydropower plants – Krasnogorskaya-1 and Krasnogorskaya-2 on Kuban river in Karachay-Cherkessia Republic.
RusHydro plans to build two hydropower stations with installed electric capacity of 24.9 MW and annual output of 83.8 GWh each, downstream from Group’s hydrid Zelenchukskaya hydro and pumped storage power plant. The new facilities are to be commissioned in 2021-2022.
The new facilities improve hydrological regime of Kuban River, lifting limitations on capacity of Zelenchukskaya HPP-PSP, currently set at 70 MW. The regime optimization will add 230 GWh to output of Kuban Cascade annually.
The project will create 700 new jobs for construction period.
Karsnogorskaya Small HPP-1 and 2 have been selected via capacity auction for renewables, guaranteeing project profitability via so-called capacity supply agreement (DPM). Mosoblhydroproject, RusHydro’s engineering subsidiary, has designed the plants.
Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro: “Development of renewable generation such as small hydro has always been an important part of business for RusHydro. Within the year, we plan to commence construction of three small HPPs in the North Caucasus region and today we lay the foundation for construction of two Krasnogorskaya-1 and 2 small HPPs. Despite their small-scale these plants will have a significant positive impact on the power system of the Karachay-Cherkessia Republic”.
Rashid Temrezov, Head of Karachay-Cherkessia Republic: “Today, by laying the groundwork for construction of Karsnogorskaya Small HPP-1 and 2, we secure stable tax revenues as well as creation of new workplaces. Commissioning these facilities will reduce power shortage in Karachay-Cherkessia Republic. We are grateful to Nikolay Shulginov and RusHydro’s team for developing the Republic’s hydropower potential via construction of small-scale hydropower plants as well as social involvement”.
RusHydro is actively developing hydropower generation in Karachay-Cherkessia. In 2016, the Company commissioned two hydropower units of Zelenchukskaya HPP-PSP with capacity of 140/156 MW (generation mode /pumping mode) and in 2018 commissioned small HPP on Zelenchuk river with capacity of 1.2 MW. Construction of 5.6 MW Ust-Dzhegutinskaya HPP is in progress.
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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