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2020-03-31 13:15:00

RUSHYDRO INVESTMENT PROGRAM RUB 634 BLN

ИНВЕСТИЦИОННАЯ ПРОГРАММА РУСГИДРО 634 МЛРД. РУБ.

RUSHYDRO - PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on March 26, 2020.

The Board of Directors took into consideration RusHydro Group's draft consolidated investment program for 2021-2025 with updates to 2020 including the sources of financing and preliminary approved PJSC RusHydro's draft investment program for 2021-2030 as well as changes for 2020-2029.

The investment program for 2020-2025 includes commissioning of 1.63 GW of new electric capacity, 2,401.84 Gcal/h of heat capacity, construction and modernization of over 161.1 km of heating networks and 7.8 thousand km of power lines.

In accordance with the Comprehensive Plan for the modernization and expansion of trunk infrastructure for the period up to 2024 approved by the Government of the Russian Federation, the draft investment program includes financing of construction of CHP in the city of Sovetskaya Gavan, first phase of 110 kV Pevek-Bilibino power lines, second phase of Yakutskaya GRES-2, Khabarovskaya CHP-4, Artemovskaya CHP-2 with off-site infrastructure and modernization of Vladivostokskaya CHP-2.

During 2020-2025 RusHydro Group plans to complete construction and commission the following facilities: CHP in city of Sovetskaya Gavan, Ust-Srednekanskaya HPP, five small hydropower plants (Ust-Dzhegutinskaya, Barsuchkovskaya, Verkhnebalkarskaya, Krasnogorskaya 1 and 2). The Group will also complete construction of the first phase of 110kV Pevek-Bilibino power lines.

Financing of RusHydro's investment program for 2020-2025 amounts to RUB 634.04 bn, out of which RUB 430.4 bn is allocated for projects in the Far East. The investment program is balanced from the point of view of financing sources.

Following preliminary approval of RusHydro Group's consolidated investment program for 2021-2025 by the Board of Directors, the investment program has to be approved by the federal and regional authorities.

PJSC RusHydro will continue carrying out its comprehensive modernization program of hydropower plants with combined installed capacity of 5GW until 2029.

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The Board of Directors approved investment projects within the consolidated investment program of PJSC RusHydro for public technological and price audit in 2020-2021 including modernization and relabeling of equipment at Chirkeyskaya, Mainskaya, Rybinskaya and Zhigulevskaya hydropower plants.

The Board of Directors approved the report on public technological and price audit of the Group's investment projects for 2019 including construction of Sakhalinskaya GRES-2 and CHP in the city of Sovetskaya Gavan. Scientific and Technical Council of Unified Energy System Non-profit Partnership and Scientific Council of Energy Research Institute of Russian Academy of Sciences have approved the technological and price audit of the projects at the joint meeting on power industry system research.

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The Board of Directors approved the report on execution of the Annual Comprehensive Procurement Program of PJSC RusHydro for 2019.

The Company has carried out 2,263 procurement procedures in 2019, all competitive tenders were carried out in electronic format. Small and medium size businesses represented 69% out of the total number of procurement procedures. The effect of carrying out procurement procedures amounted to RUB 5.8 bn.

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The Board of directors approved the report on organization of PJSC RusHydro Insurance protection in 2019.

Following the program's execution, insurance expenses have decreased after application of decreasing coefficients to insurance tariffs made possible by high fire safety standards and recertification of facilities.

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The Board of Directors approved changes to the Group's none-core assets register. A number of none-core infrastructure assets not utilized at production were added to the register for further sale or gratuitous transfer to the municipal authorities.

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The Board took into consideration the results of planned annual audits of the Group's facilities by the Ministry of Energy of the Russian Federation in 2019.

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The Board also approved the report on PJSC RusHydro's interest parties transactions for 2019.

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The Board of Directors approved Sergey Kirov, member of the Management Board, First Deputy General Director to hold concurrent position of member of Supervisory Board of Association NP Market Council.

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Tags: РУСГИДРО, RUSHYDRO