RusHydro has sold five dams on the Angara River in Siberia to LLC Telmamskaya HPP, a wholly owned subsidiary of JSC EuroSibEnergo, in a RUB 9,280 million deal
The dams, which form part of a cascade of hydropower plants on the Angara river, had previously been leased by EuroSibEnergo. They are the right and left bank dams of the Irkutskaya hydropower project, right and left bank dams of the Bratskaya hydropower proejct, and the Ust’-Ilimskaya dam. It does not include the concrete channel dams of the Irkutskaya and Bratskaya plants, or the buildings, generating and distribution equipment of all projects, as these are owned by PJSC Irkutskenergo. RusHydro was not involved in electricity and capacity generation and water regimes regulation by these plants. The Company acquired the dams in September 2011 for RUB 7,588 million.
This transaction allows EuroSibEnergo to create a unified asset and technology complex of hydropower plants, improving their reliability and efficiency. RusHydro, in turn, gets additional funds to finance its priority activities, including implementation of the ongoing investment projects.
