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August 28, 2009

JSC RusHydro announces that a video conference “The Russian Ministry of Power – Sayano-Shushenskaya HPP” has been held

Under the guidance of Sergei Shmatko, the Russian Minister of Power, a video conference “The Russian Ministry of Power – Sayano-Shushenskaya HPP” was conducted.  The following individuals were participants in the video conference: Deputy Russian Ministers of Power Stanislav Svetlitsky and Vyacheslav Sinyugin, Prime Minister of the Republic of Khakassia Victor Zimin, Acting Chairman of JSC RusHydro’s Management Board Vasily Zubakin and the heads of various power industry infrastructure companies.  The participants fielded questions from federal, regional and local mass media representatives and future plans for restoring the Sayano-Shushenskaya HPP post the August 17th, 2009 accident that occurred in the turbine room were discussed.   Questions related to the start-up of the shore spillway and adjustments to RusHydro’s investment program were focused on separately.

The Company launched construction of the shore spillway at the Sayano-Shushenskaya HPP site in 2005 to provide for the passage of major high waters to upgrade the safety and reliability of the hydro-engineering structures.   The structures include an intake portal and two 10 x 12 meter free-flow galleries with an aggregate through capacity of 4,000 cubic meters per second, an energy dissipation sector within the outflow portal of the tunnel, a five-step differential and a spillway channel.

According to Vasily Zubakin, construction of the shore spillway at the Sayano-Shushenskaya HPP is currently proceeding in full compliance with the timeline approved under the RusHydro investment program. However, at present, the question of changing the work schedule and accelerating the start-up of the spillway to a date not later than July 1st, 2010 (rather than the originally scheduled autumn 2010 date) is being considered. RusHydro has already submitted a proposal to the Russian Government in regards to obtaining financing from federal budget funds to complete the construction.   The spillway is not a commercial facility, instead it is a construction that guarantees greater safety for the Republic of Khakassia.

In addition, Vasily Zubakin noted that relevant ministries and departments are currently discussing adjustments to RusHydro’s investment program. The adjustments which have been proposed by the Company are based on prioritizing the following projects: the restoration of the Sayano-Shushenskaya HPP, accelerated construction of the shore spillway and start-up of the Boguchanskaya HPP (which is being built through a joint partnership between the Company and RusAl). The Company believes that bringing the Boguchanskaya HPP on line may help ensure the stability of the energy balance in Siberia, while also forming a substantial portion of RusHydro’s income base.




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