28 Dec 2017 15:23
Board of Directors approves RusHydro's investment program
December 28, 2017. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a regular meeting on December 26, 2017.
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The Board of Directors approved program of PJSC RusHydro for 2018[1] as well as target indicators on investment projects of PJSC RusHydro and subsidiaries, and took note of investment program of PJSC RusHydro for 2019-2022.
The program provides for:
- Financing volume - RUB 145,5 bn;
- Commissioning 414.5 MW of additional electric capacity and 218.2 Gcal/h of heat capacity.
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The program allocates RUB 124.1 bn for financing of rehabilitation and modernization program of operating facilities. Implementation of the program will create additional 174.5 MW of capacity.
Construction of priority projects in the Far East (CHPP in Sovetskaya Gavan's and 1st phase of Sakhalinskaya TPP-2) is nearing completion, allowing to add 240 MW of electric capacity and 218.2 Gcal/h of heat capacity. The investment program provides for RUB 19.0 bn of financing for these projects for 2018-2019.
- In addition, in 2018-2022 RusHydro plans to spend RUB 47.3 bn on investment projects, implemented by subsidiaries and R&D. Implementation of subsidiaries' investment program will create additional 1,289.53 MW of electric capacity and 218.2 Gcal/h of heat capacity.
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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 38.9 GW, heat capacity - 16.2 thousand GCal/h.
Russian Federation owns 60.6% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
For more information:
Investor Relations Department
Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304
ir@rushydro.ru
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.
[1] Doesn't include investment program of subsidiaries.