December 20, 2021. Moscow,
RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces
that the Company's Board of Directors held a meeting in absentia on
December 17, 2021.
The Board of Directors approved the report on
preliminary execution of RusHydro Group’s business plan for 2021
including the actual results of the 9 months of 2021 including the
report on execution of investment plan including comprehensive
rehabilitation and modernization program.
PJSC RusHydro’s electricity production in the
reporting period came in at the planned figure of 73.9 GWh as water
inflows to the main reservoirs of the hydropower plants on the
Volga-Kama cascade, in Siberia and in the Far East were at the level
or slightly above the long-run average.
PJSC RusHydro’s RAS net profit and EBITDA
reached record-high levels, increasing 3% and 5% respectively to RUB
43.9 bn and RUB 75.8 bn.
Financing of PJSC RusHydro’s investment program
amounted to RUB 25.6 bn including RUB 14.3 bn for comprehensive
rehabilitation and modernization program. Financing of subsidiaries
investment program in the reporting period amounted to RUB 9.8 bn. In
nine months of 2021, the Company’s installed capacity increased by
12.5 MW following rerating of generating equipment.
The Board of Directors approved PJSC RusHydro’s
insurance protection program for 2022.
The insurance coverage complies with the Company’s
internal documents and well as with the documentation on procurement.
Optimization of insurance program as well as reduction of insurance
tariffs on procurement procedures and other activities on efficiency
improvement resulted in significant savings.
The Board of Directors approved the updated
register of PJSC RusHydro’s none-core assets as well as their
In order to streamline the ownership structure of
RusHydro’s generation assets and consolidate depreciation sources
to execute investment program of operational companies, the Board of
Directors approved transfer of the following assets on the balance of
JSC RAO ES of East to the operational companies:
Peaking boiler at Yakutskaya GRES-2 to PJSC
Batagai solar power plant o JSC Sakhaenergo;
Grids at the federal highway Amur at the
Chita-Khabarovsk section,grid connections at Sovetskaya Gavan and
electric grid railroad facilities at Sovetskaya Gavan to JSC DRSK;
Off-site infrastructure at Sakhalinskaya
GRES-2 to JSC Sakhalinskaya GRES-2.
The Board of Directors approved the updated import
substitution roadmap until 2025. Import subsititution program has
been in place since 2015. Since its inception the share of imported
equipment decreased over twofold, from 39% in 2015 to 16% by the end
of 2021. In the remaining four years the share will decrease an