Boguchany hydropower plant sales revenues up 3.5-fold in 9M
KRASNOYARSK. OJSC Boguchany hydropower plant (BoGES) in Krasnoyarsk Territory increased its sales revenues to Russian Accounting Standards (RAS) 250% year-on-year to 2.87 billion rubles in January-September 2013, the company reported.
The net losses contracted 24% to 174.7 million rubles.
"The substantial growth of sales revenues was associated with the launch of BoGES's first four hydraulic units. In the [first] nine months of this year, the company supplied the country's wholesale energy capacity market with 3.752 billion kWh of electric power," company materials say.
Financial highlights, 1,000 rubles:
| 9M 2013 | 9M 2012 | |
| Sales revenues | 2 869 909 | 830 959 |
| Cost of sales | 1 771 111 | 1 019 609 |
| Gross profits (losses) | 1 098 798 | (188 650) |
| Pretax losses | 188 169 | 280 462 |
| Net losses | 174 731 | 229 165 |
Construction of the Boguchansk HPP with 3,000 megawatt capacity (9 hydro units of 333 megawatts) with average annual production of 17.6 billion kilowatt hours is part of the BEMO project (Boguchansk Energy and Metals Complex), which aims to build an aluminum plant with 588,000 tonne capacity per year.
OJSC Boguchansk HPP was established in March 1993. The main shareholder is BoGES Ltd with 95.43%. BoGES is owned on a 50-50 basis by OJSC RusHydro and RusAl via subsidiaries HydroOGK Power Company Ltd and Russal Power Company Ltd.
