RusHydro launches Ust-Srednekanskaya HPP
October 03 2013 - 11:03AM
OTC Markets
RusHydro launches Ust?-Srednekanskaya hydropower plant
in the Far East of Russia
RusHydro Group (Group, ticker symbol:
MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the first stage of
Ust?-Srednekanskaya hydropower plant on the Kolyma river in the
Magadan region of the Far East of Russia is now officially
complete, as two hydropower units have been put into operation. The
plant has been included in dispatch service schedule and with its
average daily output of 1.5 GWh is expected to produce until year
end 245 GWh of electricity.
Construction work on the site continues. The next
stage is increasing the water head from current to project level of
260 to 276.5 meters and commissioning of the third hydro-unit.
Higher water head not only will allow for higher capacity, but also
will help protect communities, located down the Kolyma River during
floodings.
The plant is expected to provide energy for the
developing mining operations in the region. In addition, the plant
output will enable development of new unique operations, such as
facility for production of liquefied hydrogen. In June 2013,
RusHydro and Kawasaki Corp. signed an agreement on development of
liquefied hydrogen in the region, that will supplied from the
hydropower plant.
Another important function of the dam is regulation of the Kolyma
river flow, which is important for shipping. Increase in hydropower
generation capacity will eliminate the need for construction of
thermal generation plants in the region, thus reducing consumption
of fuel and reducing the growth of electricity end-user
tariffs.
Commissioning of Ust?-Srednekanskaya plant
significantly improves reliability of energy supply both to
industrial and household consumers in the isolated Magadan energy
system. Previously 95% of electricity demand of the region was
covered by a single power plant only ? RusHydro?s Kolymskaya
hydropower plant.
Ust?-Srednekanskaya plant is the second in the cascade
of hydropower plants on the Kolyma river. It is located 9 km up the
stream from the mouth of Srednekan River, tributary of Kolyma
River. Construction of the plant began in 1991. The full installed
capacity is 570 MW (four units 142.5 MW each). First phase of 168
MW comprises two units operating with temporary Francis runners.
Completion of construction is planned for 2018.
About
RusHydro:
RusHydro Group is one of Russia?s
largest generating companies. RusHydro is the leading producer of
renewable energy in Russia with over 70 generating facilities in
Russia and abroad. The company also manages a number of R&D,
engineering and electricity retail companies. Group?s thermal
assets are operated by subsidiary ? RAO Energy System of East in
the Far East of Russia. Total electricity generation capacity of
the Group is 36.5 GW, heat capacity ? 16.2 thousand
GCal/h.
Russian Federation owns 67.1% in
RusHydro, the rest is held by other institutional and individual
shareholders (over 360,000). The company?s stock is traded on the
MICEX and RTS stock exchanges, and included in MSCI EM ? MSCI
Russia indexes. Company?s GDRs in the IOB section of LSE, ADRs ? in
OTCQX.
For more
information:
JSC RusHydro,
Investor Relations Department
Tel. +7 (495)
225-3232 ext. 1319, 1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain
projections or other forward-looking statements regarding future
events or the future financial performance of RusHydro. One 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 and rapid technological
and market changes in our industries, as well as many other risks
specifically related to RusHydro and its
operations.
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