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May 28, 2021

RusHydro’s Board of Directors approves the Group’s strategy

May 28, 2021. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors approved RusHydro Group’s development strategy until 2025 with outlook throughout 2035 at the meeting on May 27, 2021.


In the course of drafting the document, the Company took into account both, the macroeconomic and local environment, macroeconomic forecasts and the leading trends in the global utilities sector among the key players.

The Strategy revolves around the global transition to low carbon energy production and correlates with Russia’s strategic initiatives in which RusHydro plays a vital role in providing clean, reliable and affordable electricity.

The Strategy provides for on reliable power supply and safe operations of power facilities, sustainable development of electricity production with priority for clean energy, development of power system of the Far East Federal District and the Company’s value growth.

RusHydro Group focuses on development and modernization of low-carbon electricity production (currently 81.5% of the Company’s installed capacity) such as hydropower facilities, small hydro, solar and wind power plants and hybrid renewable energy sources for subsititution of obsolete diesel power plants in the isolated zones. The Strategy sets the tareget for reduction of direct greenhouse gases by 9% by 2035. The Group’s installed capacity will surpass 40 GW.

The Far East is another growth area for the Company and another key initiative outlined in the Strategy. The Group will continue replacing outdated assets with guaranteed return on investment such as construction of Artemovskaya CHPP-2, Khabarovskaya CHPP-4, 2nd phase of Yakutskaya GRES-2, modernization of Vladivostokskaya CHPP-2 and expansion of Neryungrinskaya and Partizanskaya GRES. Further decarbonization will take place by converting coal fired thermal power plants to natural gas.

To improve the quality of heat supply to the consumers, RusHydro plans to implement the model of “alternative boiler” in the Far East region allowing to modernize existing assets and decommission obsolete sources of heat supply to reduce the heat loses up to 16%.

The Strategy also focuses on further development of electric grids in the scope of the program on development of the power sector for the rapid development of the Far East Federal District. Increasing reliability and reduction of accident rate remain the key focus points as well as further consolidation of grid assets and reduction of grid losses up to 7.5%.

The Company’s fundamental value growth through effective communication with investors, increasing transparency and consistency of dividend distribution and focus on key aspects of investment attractiveness is another area of importance of the Strategy. The Company plans to utilize financial instruments such as green financing and cooperation with development funds and local banks to reduce the cost of borrowing. The Group’s EBITDA is expected to increase more than twofold by 2035.

Growth will foster throughout RusHydro’s entire business chain from engineering companies to supply segment to development of EV charging network in the Far East, where industrial tourism at power generating facilities is in the plan.

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