Russian power generation company RusHydro has signed two sets of agreements with Chinese company to develop hydropower projects in the Russian Far East and in Leningrad.
The group has signed a preliminary agreement with China Three Gorges Power Corporation (CTGPC) for the establishment of a joint venture (51% RusHydro, 49% CTGPC) for financing, building and operating four hydropower plants with a capacity of up to 2,000 MW in Russia’s Amur Oblast and Khabarovskiy Kray. Total investment would reach RUB 230bn (US$5bn). The joint venture will seek to evaluate and develop the following projects: Nizhne-Zeyskaya (400 MW), Selemdzhinskaya (300 MW), Giluyskaya (462 MW) and Nizhne-Nimanskaya (600 MW) hydropower plants. CTGPC will be in charge of negotiating the electricity off-take contracts with its Chinese counterparts.
RusHydro has also signed an agreement with PowerChina to establish a 51%-49% joint venture aimed at developing the 1,560 MW Leningradskaya pumped-storage hydropower plant near Saint Petersburg (Russia). Total investment is estimated at RUB 138bn (US$3bn).
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