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Boguchanskaya hydropower plant launches two hydropower units

JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the seventh and eighth 333 MW hydropower units were commissioned and put into commercial operation at the Boguchanskaya hydropower plant (a 50/50 JV of RusHydro and UC RUSAL). Total installed capacity of all units in operation now amounts to 2,667 MW.

The first three 333 MW hydropower units of the Boguchanskaya HPP were put into operation on November 26, 2012, the fourth hydropower unit was launched on January 21, 2013, unit No.5 – on November 5, 2013 and unit 6 on December 6, 2013. The plant has started commercial supplies to the wholesale electricity and capacity market from December 1, 2012. The major part of electricity (around 93%) and capacity (around 85%) produced by the plant are supplied at free (unregulated) prices determined by the competitive auction for the 2nd pricing zone (Siberia). From January 1, 2014, the rest of electricity and capacity produced by the Boguchanskaya HPP are sold at the wholesale electricity and capacity market under regulated agreements to households. Tariffs for these supplies are set by the Federal Tariff Service.

The launch of the last ninth hydropower unit of the plant is scheduled for the end of 2014. The plant will reach its full installed capacity of 3000 MW as soon as its 500 kV power output scheme is ready and reservoir is filled to its design level of 208 m (as of today the reservoir level has reached 203.4 m). The replenishment of the reservoir to the project level is expected during 2014-2015.

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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