RusHydro and VTB Bank signed a guarantee agreement under the loan facility secured by RAO ES of East
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a guarantee agreement with VTB Bank under 12-year loan facility in the amount of RUB 6.6 bn provided to RAO ES of the East to finance the construction of the offsite infrastructure facilities (power transmission line, roads and railways, etc.) for the Yakutskaya TPP-2.
The guarantee agreement with VTB Bank was approved by the Board of Directors of RusHydro on April 29, 2015.
The 1st stage of the Yakutskaya TPP-2 is one of four priority projects of RusHydro in the Far East of Russia. The electric capacity of the first stage of the plant will be 193 MW, heat capacity – 469 GCal/h.
The new plant will replace the retired capacities of the Yakutskaya TPP, create spare capacity and improve reliability of power supplies in Sakha, Yakutia. New gas-fired plant will displace a part of inefficient and environmentally harmful boiler plants and provide heat supplies to customers.
In accordance with the President’s decree no. 1564 of November 22, 2012, the funds in the amount of RUB 50 bn were contributed to the Company’s charter capital to finance the construction of power facilities in the Far East of Russia:
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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