RusHydro, Siemens agree on equipment production for renewable energy in Russia
MOSCOW. Oct 20 (Interfax) - OJSC RusHydro and Siemens have concluded an agreement on strategic partnership, an Interfax correspondent reported from the signing ceremony.
RusHydro chairman of the management board and CEO Yevgeny Dod and the president of Siemens in Russia - LLC Siemens, Dietrich Moeller, signed the document.
In accordance with the agreement, the companies are planning to strengthen and develop their strategic partnership in all activities, which meet mutual interests. The priority areas of cooperation will be: cooperation in reconstruction and modernization, the technical retrofitting of existing equipment and the construction of new facilities for hydro- and thermal power in Russia, and joint participation in the implementation of investment projects on the basis of renewable energy resources (hydraulic power, solar power, wind power)in Russia and third countries.
The companies are also interested in producing equipment for energy generation based on renewable energy sources in Russia.
The concrete conditions of cooperation - the timeframe, the stages of implementing projects, rights and obligations of the sides - will be established for each project individually in accordance with a binding agreement. An agreement will come into effect from the date of its signing and will be valid for three years.
LLC Siemens is Siemens' flagship company in the Russia, Belarus and Central Asia. Orders in these countries in the 2013 financial year (as of September 30) amounted to about 2.4 billion euro and turnover was more than 2.4 billion euro.
RusHydro is a company with state participation, uniting more than 70 hydropower plants in Russia and abroad. Installed capacity at power stations in the group totals 38.2 GW, including RAO Energy System of East and the Boguchansk hydropower plant (HPP).