Results of the Board of Directors on March 29, 2013< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the Company’s Board of Directors held a meeting in absentia on March 29, 2013.
The Board of Directors approved the report on 2012 business-plan execution (including report on implementation of investment program, comprising report on implementation of generating facilities modernization program in 2012).
Electricity generation and output by RusHydro’s power plants for the 2012 totaled 105.2% and 105.9% of the planned volumes respectively. The slight overshoot was a result of favorable hydrological conditions and regimes allowed by the Federal Water Resources Agency.
In 2012, as a part of RusHydro`s investment program implementation a number of construction works were completed, including:
- two hydropower units were installed at the Zagorskaya pumped storage plant No. 2 (420 MW);
- hydropower units No.1-6 (1,998 MW) were commissioned at the Boguchanskaya HPP.
Technical upgrade and reconstruction works and capacity installation at the Volzhskaya HPP (15.5 MW), the Kamskaya HPP (9 MW) and the Kabardino-Balkaria branch (2 MW) were also completed.
In 2012, three new hydropower units (1,920 MW) at the Sayano-Shushenskaya HPP and three hydropower units at the Baksanskaya HPP (25 MW) were also commissioned.
Financing of investment program in 2012 including projects of comprehensive modernization program for 2012-2025 amounted to RUR 97.07 bn or 99% of financing plan.
Actual financing of technical rehabilitation and modernization projects totaled RUR 33.12 bn or 127% of the annual plan of RUR 26.13 bn. The increase of financing was due to the additional reconstruction of hydro turbines at the Volzhskaya HPP, the Zhigulevskaya HPP, the Kamskaya HPP and other HPPs.
The Board of Directors approved RusHydro`s business-plan for 2013, including the investment program, quarterly and yearly KPIs and quarterly financing plans for 2013. Furthermore, the Company’s Board of Directors approved the Company’s business plan for 2014-2017, including the investment program for 2014-2017.