02.09.2009
printable version
RSS

JSC RusHydro in talks with EBRD on a potential loan

SC RusHydro (ticker symbol: HYDR, MICEX, RTS and LSE) is currently in talks with the EBRD on a potential loan to be used for restoration work at the Company's Sayano-Shushenskaya HPP.  The talks began after a meeting between Russian President Vladimir Putin and EBRD President Thomas Mirov, who offered on behalf of the Bank assistance to help the Company address the effects of the recent accident at the Sayano-Shushenskaya HPP. 

 

In 2006, RusHydro received a significant RUR 6.3 billion long-term loan from the EBRD. The Company is confident that the ongoing talks will lead to a successful new deal with the Bank.  

 

The accident at the Sayano-Shushenskaya HPP occurred August 17th, 2009. When the accident occurred, 9 turbines were operating, while turbine #6 was in reserve. The aggregate active capacity of the working turbines was 4,400 MWt. As a result of the large-scale accident, turbines #2, 7 and 9 were destroyed, while turbines #1, 3, 4 and 10 sustained serious damage. Turbines #5 and 8 suffered insignificant damage and turbine #6 remains in satisfactory condition. In addition, the body of the dam and its water-conduits are intact. At present, rescue and emergency work has been completed and the Company has now launched restoration work at the site. RusHydro tentatively estimates that restoration work will require RUR 40 billion.

Your application has been accepted. The answer will be prepared and sent within 20 calendar days. ok